Instructions For 2012 Schedule Ve - Department Of Veteran Affairs

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Instructions for 2012 Schedule VE
GENERAL INSTRUCTIONS
Limitations
Purpose of Schedule VE
No credit may be claimed in any taxable year in
which the disabled veteran voluntarily or
Use Schedule VE to claim the veteran employment
involuntarily
leaves
employment
with
the
credit. The credit is first available for taxable years
claimant.
beginning after December 31, 2011.
The credit is available only for hiring a disabled
veteran who
has received
unemployment
Who is Eligible to Claim the Credit
compensation benefits for at least one week
prior to being hired, who was receiving such
Any individual, estate, trust, partnership, limited
benefits at the time that he or she was hired,
liability company (LLC), corporation, tax option (S)
and who was eligible to receive such benefits at
corporation, insurance company, or tax-exempt
organization may be eligible for the credit. The
the time the benefits were paid.
credit is available to an employer for each disabled
veteran hired in the taxable year to work a full-time
The maximum credit for each disabled veteran
hired to work a full-time job is $4,000 in the
or part-time job at the employer’s business in
taxable year in which the veteran is hired and
Wisconsin.
$2,000 in each of the next three taxable years.
Partnerships, LLCs treated as partnerships, and
The credit for each disabled veteran hired to
tax-option (S) corporations cannot claim the
work a part-time job is $2,000 in the taxable
credit; instead the credit flows through to the
partners, members, or shareholders based on their
year in which the veteran is hired and $1,000
ownership interests.
in each of the next three taxable years. These
amounts must be prorated based on the ratio of
the number of hours that the disabled veteran
Estates and trusts share the credit with their
worked for the claimant during the taxable year
beneficiaries in proportion to the income allocable
to 2,080.
to each.
The credit must be claimed within four years of
Definitions
the unextended due date of the tax return.
“Disabled veteran” means a veteran who is verified
In order to claim the credit, the employer must
by the Wisconsin Department of Veteran Affairs
to have a service-connected disability rating of at
have received confirmation of the veteran’s
eligibility from the Wisconsin Department of
least 50 percent under 38 USC 1114 or 1134.
Veterans Affairs
(WDVA).
To
obtain
this
confirmation, after the veteran is hired, both the
“Full-time job” means a regular, nonseasonal full-
employer and veteran must complete and sign
time position in which an individual, as a condition
the appropriate sections of WDVA Form 2640,
of employment, is required to work at least 2,080
Certification Request for Veteran Employment
hours per year, including paid leave and holidays.
Credit. Form 2640 is available from the
WDVA web site at
“Part-time job” means a regular, nonseasonal part-
time position in which an individual, as a condition
By completing this form, the veteran is
of employment, is required to work fewer than 2,080
authorizing the WDVA to release the required
hours per year, including paid leave and holidays.
information to the employer. The completed
certification request should be mailed to:
“Veteran” means a person who is verified by the
Wisconsin Department of Veteran Affairs to have
Department of Veterans Affairs
served on active duty under honorable conditions
in the U.S. armed forces, in forces incorporated as
PO Box 7843
part of the U.S. armed forces, in the National Guard,
Madison, WI 53707-7843
or in a reserve component of the U.S. armed forces.
IC-179

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