U.S. Department of Labor Issues Funding to State Workforce Agencies
State Workforce Agencies (SWAs) responsible for the administration of the Work Opportunity Tax Credit (WOTC) Program are working diligently to process retroactive and current WOTC Program certification requests.
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...
WOTC Five Year Extension
The Senate voted 55-33 to pass H.R 2029, the Omnibus appropriations and tax extenders bill and sent the bill to the President for his signature. The bill contains a five year retroactive extension of WOTC and the VOW To Hired Heroes Act tax credits for hiring veterans. The President has said he will sign the bill. He has until midnight December 22 to do so because government funding runs out at that time.
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...