Businesses searching for new employees have a little more than a week left to get a tax credit for hiring a veteran.
The Work Opportunity Tax Credit is available for employers who hire a military veteran before the end of the year.
Congress scheduled the credit, which has been available for the past few years, to end after 2013.
The credit could be worth thousands of dollars, said Bill Brunson, IRS a spokesman in Phoenix.
“Employers hiring qualified veterans before Jan. 1 may be able to claim the Work Opportunity Credit. The credit is worth as much as $9,600 per workers for employers that operate taxable businesses,” he said.
It could also be a benefit for tax-exempt organizations. Those employers can get credit of up to $6,240 for hiring a qualified veteran by the end of the year, Bronson said.
In order to qualify for the tax, an organization must fill out IRS form 8850. The amount of the credit depends on some variable factors: how long the veteran was unemployed; the number of hours the veteran works; how much the person makes in the first year on the job.