Tax Extenders Signed into Law

On Friday, December 18, 2015, President Obama signed into law H.R. 2029 - Consolidated Appropriations Act, 2016.  This measure is the vehicle for the Consolidated Appropriations Act, 2016 and the Protecting Americans from Tax Hikes Act of 2015, in which the tax extenders have been renewed for various periods and, in some cases, expanded.  The compromise legislation included both the $1.1 trillion omnibus spending bill and the $622 billion for the tax extenders. Within the legislation is a five-year renewal of the Work Opportunity Tax (WOTC) Program, with a retr...
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Tax Credit Extenders H.R. 2029 Amendment #2 Passes House

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 (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 f...
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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...
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WOTC Extension Bill Passes Senate Finance Committee

The Senate Finance Committee overwhelmingly approved a tax extenders bill with a vote of 23-3.  In order to enhance passage, only a few amendments were allowed, and none affected a number of significant changes to certain tax credit programs in the original bill. The bill reauthorizes the Work Opportunity Tax Credit (WOTC) Program for a two-year period: Retroactively from January 1, 2015 through December 31, 2016.  The VOW to Hire Heroes Act tax credits for hiring post 9/11 disabled and other veterans also were extended for the same period as were the empowerment zone de...
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