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Paul Suplizio, President of the the Work Opportunity Tax Credit Coalition has authored an official letter to the Department of Treasury urging the Department to extend the time period granted for WOTC applications under Transition Relief.
IRS Notice 2016-22 provides Transition Relief for employers needing more time to process WOTC applications for employees hired in 2015 and early 2016. This relief was necessary because of Congress’ long delay in reauthorizing the WOTC program after it expired on December 31, 2014. (more…)PUBLISHED IN
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Ed Sealover of the Denver Business Journal reports today that State Representative Dianne Primavera has killed her state tax credit proposal HB 1372. Yesterday, Colorado’s House Finance Committee voted 9 to 0 to postpone the bill indefinitely. (more…)
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Colorado House Bill 1372, legislation proposing a State of Colorado Work Opportunity Income Tax Credit, has been working its way through the Colorado State Legislature.
HB 1372 was introduced on March 16th. The House Committee on Public Health Care and Human Services passed an amended version of the bill on April 5, sending it to the House Finance Committee for further hearings. Apparently, the sole amendment was to delay implementation of the program until January 1, 2018. (more…)PUBLISHED IN
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Representative Bonnie Watson Coleman of New Jersey has sponsored a bill to increase the amount of Work Opportunity Tax Credit generated by wages paid to older Long Term Unemployment Recipients.
This bill, known as the Investing in Older Workers Act, would increase the maximum qualifying wage from the current $6,000 to $14,000 for qualifying Long Term Unemployment Recipients who are age 55 or older. As a result, the maximum tax credit amount that could be generated by hiring an an older long-term unemployment recipient would increase from $2,400 to $5,600. (more…)PUBLISHED IN
