Tax Credit Extenders Renewal Continues to Move Forward
H.R. 2029 has been amended with The Protecting Americans From Tax Hikes Act to both renew and expand various tax credit programs. In particular, the Work Opportunity Tax (WOTC) Program will be renewed for a period of five 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 unemplo...
WOTC Extension Discussion Progresses
Ways and Means Chairman Kevin Brady sent to the House Rules Committee last night a two-year tax extenders bill tabled as a House amendment to a Senate Amendment to H.R. 34, “Tax Increase Prevention and Real Estate Investment Act of 2015.” This bill is only one option currently on the table with other options being a five-year extension and a broader bill making some extenders permanent.
The House amendment reauthorizes the WOTC Program retroactively until the end of 2016, introduces a new target group, “Long-term unemployment recipient”, which is applicable to new hi...