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Work Opportunity Credit
Two new targeted groups have been added to the work opportunity credit:
* Unemployed veterans, and
* Disconnected youth.
An unemployed veteran is a veteran hired after 2008 and before 2011 who:
* Has been discharged or released from active duty in the U.S. Armed Forces at
any time during the 5-year period ending on the hiring date, and
* Received unemployment compensation under state or federal law for at least 4
weeks during the 1-year period ending on the hiring date.
A disconnected youth is an individual hired after 2008 and before 2011 who:
* Is at least age 16 but not yet age 25 on the hiring date;
* During the past 6 months, has not attended or has not regularly attended any
secondary, technical, or post-secondary school for more than an average of 10
hours per week, not counting periods during which the school was closed for
scheduled vacation;
* During each consecutive 3-month period within the past 6 months, was not
employed or was employed and earned an amount less than he or she would
have earned working for the applicable minimum wage 30 hours every week
during the 3-month period; and
* Does not have a certificate of graduation from a secondary school or a General
Education Development (GED) certificate or has a certificate that was awarded
at least 6 months ago and he or she has not held a job (other than occasionally)
or been admitted to a technical or post-secondary school since receiving the
certificate.
IRS Work Opportunity Tax Credit – IRS Tax Experts
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