President Obama recently signed the VOW to Hire Heroes Act, which offers tax incentives to employers for hiring unemployed veterans. The new law was enacted on November 21, 2011, and was effective immediately.
Unfortunately, the Act leaves out important details, such as when the tax incentive period expires and how employers can claim the credit. The IRS is expected to fill in those gaps by offering guidance to employers seeking to take advantage of this incentive. We will keep you informed as developments occur.