TITLE II – PUTTING WORKERS BACK ON THE JOB WHILE REBUILDING AND MODERNIZING AMERICA
SUBTITLE A – VETERANS HIRING PREFERENCES
The is the current IRS Tax Code I place here because it is a Veteren's Issue.
TITLE 26 - INTERNAL REVENUE CODE Subtitle A - Income Taxes CHAPTER 1 - NORMAL TAXES AND SURTAXES Subchapter A - Determination of Tax Liability PART IV - CREDITS AGAINST TAX Subpart F - Rules for Computing Work Opportunity Credit Sec. 51. Amount of credit (b) Qualified wages defined
(3) Limitation on wages per year taken into account
The amount of the qualified first-year wages which may be taken
into account with respect to any individual shall not exceed
$6,000 per year ($12,000 per year in the case of
any individual who is a qualified veteran by reason of
subsection (d)(3)(A)(ii)).
These are the changes:
(a) IN GENERAL. —Paragraph (3) of section 51(b) of the Internal Revenue Code is amended by striking “($12,000 per year in the case of any individual who is a qualified veteran by reason of subsection (d)(3)(A)(ii))” and inserting “($12,000 per year in the case of any individual who is a qualified veteran by reason of subsection (d)(3)(A)(ii)(I), $14,000 per year in the case of any individual who is a qualified veteran by reason of subsection (d)(3)(A)(iv), and $24,000 per year in the case of any individual who is a qualified veteran by reason of subsection (d)(3)(A)(ii)(II))”.
My online Tax Code does not list (d)(3)(A)(iv), but, the others are here:
Sec. 51. Amount of credit (d) Members of targeted groups For purposes of this subpart - (3) Qualified veteran (A) In general The term ''qualified veteran'' means any veteran who is certified by the designated local agency-- (ii) entitled to compensation for a service- connected disability, and-- (I) having a hiring date which is not more that 1 year after having been discharged or released from active duty in the Armed Forces of the United States, or (II) having aggregate periods of unemployment during the 1-year period ending on the hiring date which equal or exceed 6 months. receiving assistance under a food stamp program under the Food Stamp Act of 1977 for at least a 3-month period ending during the 12-month period ending on the hiring date.That should be helpful.
This is the next section of the new bill, The American Jobs Act:
(b) RETURNING HEROES TAX CREDITS. —section 51(d)(3)(A) of the Internal Revenue Code is amended by striking “or” at the end of paragraph (3)(A)(i), and inserting the following new paragraphs after paragraph (ii)—
“(iii) having aggregate periods of unemployment during the 1-year period ending on the hiring date which equal or exceed 4 weeks (but less than 6 months), or
(iv) having aggregate periods of unemployment during the 1-year period ending on the hiring date which equal or exceed 6 months.”
And the changes are to this section of the Tax Code:
The next paragraph to The American Jobs Act is a NEW paragraph to the Tax Code so there isn't any old code to display here.
(d) Members of targeted groups For purposes of this subpart - (3) Qualified veteran (A) In general The term ''qualified veteran'' means any veteran who is certified by the designated local agency-- (i) being a member of a family receiving assistance under a food stamp program under the Food Stamp Act of 1977 for at least a 3-month period ending during the 12-month period ending on the hiring date, or (ii) entitled to compensation for a service- connected disability, and-- (I) having a hiring date which is not more that 1 year after having been discharged or released from active duty in the Armed Forces of the United States, or (II) having aggregate periods of unemployment during the 1-year period ending on the hiring date which equal or exceed 6 months. receiving assistance under a food stamp program under the Food Stamp Act of 1977 for at least a 3-month period ending during the 12-month period ending on the hiring date.The next paragraph to The American Jobs Act is a NEW paragraph to the Tax Code so there isn't any old code to display here.
(c) SIMPLIFIED CERTIFICATION. —Section 51(d) of the Internal revenue Code is amended by adding a new paragraph 15 as follows—
“(15) Credit allowed for unemployed veterans.
(A) In general. Any qualified veteran under paragraphs (3)(A)(ii)(II), (3)(A)(iii), and (3)(A)(iv) will be treated as certified by the designated local agency as having aggregate periods of unemployment if—
(i) In the case of qualified veterans under paragraphs (3)(A)(ii)(II) and (3)(A)(iv), the veteran is certified by the designated local agency as being in receipt of unemployment compensation under State or Federal law for not less than 6 months during the 1-year period ending on the hiring date; or
(ii) In the case of a qualified veteran under paragraph (3)(A)(iii), the veteran is certified by the designated local agency as being in receipt of unemployment compensation under State or Federal law for not less than 4 weeks (but less than 6 months) during the 1-year period ending on the hiring date.
(B) Regulatory Authority. The Secretary in his discretion may provide alternative methods for certification.”.The simplification of qualifying is obvious, there are far less jobs in
the USA then when they left to deploy to Iraq or Afghanistan, the economy
is in flux with expansion in the private sector while the public sector
is being hacked away at by Republican Governors, so the ability of the
Secretary of Veteran Affairs to determine where the jobs are going to be
for these people would take somewhat of a crystal ball. Therefore, why
should life be difficult for the Veteran that is a bit 'out of touch'
with the job market from when they left. It is disorienting enough to
come home from war, but, to come home to a different America is not only
confusing and disorienting but demoralizing when one considers why they
went to war in the first place.
The remainder of Subtitle A of this section comprises definitions of
words other than defining the veteran. It also states where the changes
to the code applies to the employers of these veterans.
On to the next subtitle on page 13. Thank you.
the USA then when they left to deploy to Iraq or Afghanistan, the economy
is in flux with expansion in the private sector while the public sector
is being hacked away at by Republican Governors, so the ability of the
Secretary of Veteran Affairs to determine where the jobs are going to be
for these people would take somewhat of a crystal ball. Therefore, why
should life be difficult for the Veteran that is a bit 'out of touch'
with the job market from when they left. It is disorienting enough to
come home from war, but, to come home to a different America is not only
confusing and disorienting but demoralizing when one considers why they
went to war in the first place.
The remainder of Subtitle A of this section comprises definitions of
words other than defining the veteran. It also states where the changes
to the code applies to the employers of these veterans.
On to the next subtitle on page 13. Thank you.
