NEWS

Updated VOW Changes For Clients

By admin • 10 January 2015 •

Dear Valued Clients and Partners,

As you may be aware through the extensive press coverage and our recent communications, Work Opportunity Tax Credit Programs are undergoing numerous changes. If you are unfamiliar with the new legislation please visit the news section of our site (http://taxbreakcredits.com/newsc.php) for the latest updates.

This communication is to assure you that we have actively reviewed, in great detail, all legislative documentation and have diligently mapped all new opportunities afforded by the new VOW to Hire Heroes Act, passed on November 21, 2011, to our processing methods.

We are pleased to report that only minor changes were required in order for us to process the new tax credits afforded our clients through the VOW to Hire Heroes Act. These minor changes to the veteran related questions have been made in the Quick Check portion of the screening process and have been made effective upon the passing of the legislation.

Please feel assured that if any of your processing methods were affected you would have heard from us already or will be contacted by your CRM within the next week.

Additionally, there will be a revised Form 8850 released by the IRS to accommodate the new categories. We are watching for this release daily, and our technical teams are on stand by to upload it immediately upon release.  At which time, any further changes will be communicated.

Today, our processing methods continue to offer the most thorough tax credit eligibility assessments available, and our team stands ready to assist our clients recover all tax credit opportunities afforded by the VOW to Hire Heroes Act.

As always we are happy to address any of your comments, questions or concerns regarding the evolving WOTC programs and new tax credit recovery opportunities.

Warmest regards,

The TaxBreak Team

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