Homeless Hiring Tax Credit January 2022 Tax News
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The Homeless Hiring Tax Credit is a new credit for taxpayers who hire people that have received certification they are experiencing homelessness, or receiving supportive homeless services.
The amount of credit per eligible employee is up to $10,000 in a taxable year, depending on the number of hours the employee works in the year. Each employer can claim up to $30,000 in credit for each taxable year.
Employers are required to get a tentative credit reservation from us within 30 days of fulfilling their New Hire Reporting requirements with the California Employment Development Department. Our webpage will have a link to get the reservation beginning January 4.