The House has approved H.R. 2029 as amended with The Protecting Americans from Tax Hikes Act, which both renews and expands various tax credit programs. In particular, the Work Opportunity Tax Credit program (WOTC) will be renewed for a period of 5 years, with a retroactive start date of January 1, 2015 through December 31, 2019.
Also included in the renewal of the WOTC program is an expansion in which a new target group has been added to the existing nine groups. The new target group is the long-term unemployment recipient, which includes individuals who have been receiving federal or state unemployment for a period of at least 27 consecutive weeks prior to their hiring. Continue reading “Tax Credit Extenders H.R. 2029 Amendment #2 Passes House”