TaxBreak has received very exciting news about WOTC that we would like to share with you, our valued client!
The Baucus/Hatch tax extenders bill was approved on a 19-5 vote by the Senate Finance Committee on August 02, 2012. So what does this mean to you? This bill contains a two-year retroactive extension of WOTC through December 31st, 2013. A retroactive extension of the Empowerment Zones and Indian Credits are also included in the bill.
You can also view a final summary of the modified marked up bill by clicking HERE. If you would like to continue monitoring the progression of the Chairman’s modifications to the bill, visit the Finance Committee web site, www.finance.senate.gov, click on “Hearings,” then on “Open Executive Session on Family and Business Tax Certainty Act of 2012.”
Please continue to process your new hires as usual in order to avoid missing out on the credits due your company, as historically these credits have been reinstated retroactively.
We are committed to keeping you informed as this bill progresses and will update you as new information is made available.
If you would like to get involved in our effort to extend WOTC, contact: