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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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...
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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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WOTC Extended Deadline for 2014 IRS 8850 Form Filing

IRS Notice 2015-13, “Work Opportunity Tax Credit (WOTC) Extension For 2014.” The notice may be accessed at www.irs.gov/pub/irs-drop/n-15-13. Employers have until April 30, 2015 to file certification requests (IRS Form 8850) with the appropriate state workforce agency for workers hired from January 1 through December 31, 2014. The Not...
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