Clarification About IRS Release on Veteran Tax Credit

By admin • 10 January 2015 •

1330012364_tax-extension-fileTaxBreak, your tax credit service provider, is providing you with this message to clarify a recent notice released by the IRS, IR-2012-17 IRS Releases Guidance on How to Claim Expanded Veterans Tax Credit; Certification Requirements Streamlinedand to help you understand the specific changes related to processing of the new veteran WOTC target groups.

Even when a state will accept faxed forms, it only applies to Veteran pre-qualifiers and not to the other target groups until the extension is passed and if they add this verbiage to the legislation for those groups as well.

You will still need to submit the original forms until we receive confirmation from any state office that they will accept faxed forms, and that would only apply to veteran pre-qualifiers.  TaxBreak will notify you as soon as these rules change in the future, but until then we will continue to operate under the assumption that all categories require original signatures/forms including veterans until we receive notice from any particular state WOTC office.

The IRS has also provided for transition relief pertaining specifically to the VOW To Hire Heroes veteran target groups.  For all potential veteran qualifiers hired between November 22, 2011, and May 22, 2012, we have until June 19, 2012, to submit the WOTC applications to state workforce agencies for certification.  This will not apply to any other target groups, and once this period has passed, the standard 28 days from start date deadline will apply for all groups.

If you have hired any veterans since November 22, 2011 and have not submitted forms, please have them fill out a Tax Credit Questionnaire, IRS form 8850 and a Veterans release form and submit it to us immediately.

If you have any further questions please contact your Client Relations Manager.

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