QUESTIONS? CALL: (800) 655-5281Login to WOTC Status Tracker

WOTC Planet

  • Tax Benefits
    • Reasons to WOTC
    • Employee Retention Credit
    • Military Veterans
  • How We Serve
    • Ways to WOTC
  • Marketplace
    • Marketplace Partners
  • Accountants
  • Resources
    • Frequently Asked Questions
  • About Us
    • Testimonials
  • Blog
Find My Tax Credits

Expand WOTC Again? Yes! Hire Veteran Students Using GI Bill

by Vaughn Hromiko / Wednesday, 25 July 2018 / Published in Veterans, Work Opportunity Tax Credit
Veteran Student

Congresswoman Jacky Rosen, a Democrat from Nevada, issued a press release describing her effort to expand the Work Opportunity Tax Credit (aka WOTC). HR 6392, known as the Hire Student Veterans Act, would add a new target group to the WOTC program.

What does this legislation do? If passed, the Hire Student Veterans Act would offer employers a tax credit for hiring veterans of the armed forces who are “attending an institute of education” while receiving educational assistance from the GI Bill.  It would provide a maximum tax credit of $2,400—equal to 40% of the veteran’s first $6,000 in wages.  This is a standard WOTC scenario.

However, because this bill targets students (who are often not able to work full time), it proposes to lower the WOTC program’s usual 400-hours threshold.  For other target groups, if a qualifying employee works less than 400 hours, the rate used to calculate the tax credit must be reduced from 40% to 25%.  Under this bill, the 40% calculation rate kicks in with a minimum of just 120 hours worked.

Congresswoman Rosen:

“I’m proud to introduce this legislation that will help our student veterans using their GI Bill benefits find paid internships or jobs while in school. This bipartisan plan will help incentivize businesses to hire student veterans, giving them the opportunity to advance their careers while continuing the transition back into civilian life.”

This bill currently has three additional cosponsors, including Democrat Debbie Dingell (MI) and Republicans Leonard Lance (NJ) and Daniel M. Donovan, Jr. (NY).

We’ll keep you posted of any new developments for this bill.

0
  • Tweet
Tagged under: armed forces, GI Bill, military, military veterans, student veterans, veteran students, Veterans, Work Opportunity Tax Credit, WOTC
Vaughn Hromiko

About Vaughn Hromiko

Vaughn scours the news (with the help of daily Google alerts), finding interesting things for people who need to know about WOTC and other hiring tax credits. For 19 years, he’s been a Partner and the Director of Client Services at WOTC Planet.
« Prev
Next »

OUR MOST RECENT POSTS

Military Spouse Hiring Act – US House Sponsorship Changes Hands
Is Your Covid-19 Tax Refund Feeling Abandoned and Lonely?
Military Spouse Hiring Act Would Expand WOTC Target Groups
Click Here to Find Your Tax Credits

Free WOTC Eligibility Analysis

 

  • Privacy Policy
  • WOTC Planet Blog
  • Society for Human Resource Management SHRM
  • National Restaurant Association
  • California Hotel & Lodging Association
  • California Lodging Industry Association

Hromiko & Associates, LLC BBB Business Review

Contact us

T (800) 655-5281
Email: inquire@wotcplanet.com

WOTC Planet
PO BOX 41159
Sacramento CA 95841

Open in Google Maps

  • GET SOCIAL
WOTC Planet

Copyright © 2019 | Hromiko & Associates, LLC. The WOTC Planet logo is a service mark of Hromiko & Associates, LLC

TOP