Law Dictionary

Alternative Trade Adjustment Assistance (ATAA)

(Tax Law)

Similar to Trade Adjustment Assistance (TAA), ATAA is a benefit designed for older workers and provides an alternative to the benefits offered under the regular TAA program. Participation in ATAA allows older workers, for whom retraining may not be suitable, to accept reemployment at a lower wage and receive a wage subsidy. ATAA is for workers who are at least 50 years of age and have obtained different, full-time employment within 26 weeks of separating from a company which suffered due to increased imports from, or shifts in production to, begin foreign counties.These workers may receive 50% of the wage differential (up tp a maximum of $10,000) during their two-year eligibility period. To be eligible for the ATAA program, workers wored must meet crteria eligibility criteria. Workers who take advantage of the ATAA cannot receive three of the regular TAA benefits and services (training, TRA, and job search allowances); they are, howeer, eligible to apply for relocation allowances and the HCTC, Not: If you register for the tax credit under TAA and then vecome a participant in ATAA, you must re-register and re-qualify for the HCTC at that time.

Source : Internal Revenue Service - United States Department of Treasury

Language : English

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