Presidential Update for Companies Hiring Veterans: Obama’s proposed new “Returning Heroes Tax Credit” gives $2,400 to companies for each veteran they hire who has been unemployed for less than six months and $4,800 for those unemployed for half a year or more, administration officials said. And the existing “Wounded Warriors Tax Credit” — paid out for hiring wounded veterans — would be doubled to $9,600 for taking on someone unemployed for six months or longer.

Disabled Access Tax Incentives:  Small businesses are eligible for two tax incentives to help cover the cost of providing reasonable accommodations for employees or customers with disabilities, such as sign language interpreters, readers, materials in alternative format (Braille or large print), the purchase of adaptive equipment, the modification of existing equipment, or the removal of architectural barriers.  For more information about properly claiming this and other tax credits, refer to IRS [1] Publication 334, Tax Guide For Small Business and [2] Form 8826, Disabled Access Credit.

Work Opportunity Tax Credit Program (WOTC): This program encourages employers to hire targeted groups of job seekers by offering them a federal income tax credit. Targeted groups include: veterans, summer youth, Title IV-A recipients, Temporary Assistance to Needy Families (TANF), ex felons, SSI recipients, SNAP recipients (Supplemental Nutrition Assistance Program), and Long-term Family Assistance recipients.  The WOTC can reduce an employer’s federal tax liability by up to $2,400 per new hire: [3] http://www.doleta.gov/business/Incentives/opptax/.

The VA Training Program allows eligible disabled veterans to receive training or work experience at the VA.  Please visit the Office of Personnel Management’s (OPM) Web site for more information:  [4] http://www.opm.gov/veterans.

Resources for Employment & Disability Information Network (READi-Net) helps employers with the following employment needs regarding persons with disabilities: recruiting services, financial incentives, disability management, employer training, ADA resources, electronic recruiting, and technical assistance.  Therefore, contact your local Alabama Department of Rehabilitative Services (ADRS) representative at 205-290-4457 or [5] www.rehab.alabama.gov/employers.  READi-Net is affiliated with the National Employment Team (NET). Contact them to find out the name of your state disability office.

Troops to Teachers: [6] Our new http://www.jobs2teach.doded.mil Schools can register to gain access to the Troops to Teachers database to search for recruiting new teachers and learn about the tax incentives for hiring veterans.

Hiring Incentives to Restore Employment (HIRE) Act: Did you get your tax credit if you hired an unemployed worker last year?  Employers who hired unemployed workers from February 3, 2010 to January 1, 2011 qualified for a 6.2 % payroll tax incentive, in effect exempting therm from their share of Social Security taxes on wages paid to those workers after March 18, 2010.  The employer and employee’s shares of Medicare taxes would also still apply to those wages.  In addition, for each worker retained for at least a year, businesses may claim an additional general business tax credit, up to $1000 per worker, when they file their 2011 income tax returns.

Federal Bonding Program:  This program provides fidelity bonding insurance coverage to individuals with criminal histories and other high-risk job applicants who are qualified, but fail to get jobs because regular commercial bonding is denied due to their backgrounds.  The US Department of Labor (DOL) created this program to guarantee the job honesty of at-risk job seekers.  Federal financing of Fidelity Bond insurance, issued free-of-charge to employers, enables the delivery of bonding services as a unique job placement tool. Contact your State Employment Service for the for issuance of a federal bond from the DOL.

*****Sierra Group Foundation Project shows specific tax incentives per state: [7] http://employmentincentives.com/state_incentives/state_incentives_intro.htm#fl

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