November 19, 2011 2:10 pm

New Credits for Hiring Vets

Congress has voted to repeal the 3% withholding on payments to contractors, a rule that was set to take effect in 2013. As part of the repeal process, Congress also created two new tax credits for businesses that hire certain veterans:

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Tax Glossary

Short tax year

A tax year of less than 12 months. May occur with the startup of a business or change in accounting method.

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