Combat Veterans Back to Work Act of 2011 - Amends the Internal Revenue Code to: (1) allow nongovernmental employers an exemption from, or reduction in, employment taxes for the period beginning after the enactment of this Act and ending on December 31, 2012, for wages paid to a qualified individual; and (2) allow an employer a business tax credit for each such worker retained by such employer who has been employed for not less than 52 consecutive weeks at a specified wage level.
Defines a "qualified individual" as any individual who: (1) begins employment after June 30, 2011, and before January 1, 2013; (2) is a current member of the National Guard or a reserve component; (3) within 18 months before beginning such employment, returned from a deployment of at least 180 days in support of a contingency operation; and (4) has not been hired to replace another employee unless such other employee separated from employment voluntarily or for cause.