WOTC Survives Tax Reform Compromise!
After a flurry of last-hour compromise, the the Tax Cuts and Jobs Act (aka Republican tax reform bill) was finalized on Friday. At about 5:30 PM Eastern, an updated copy of the bill was released to the public (see Business Tax Reform, Section E (4).) (more…)
- Published in Work Opportunity Tax Credit
Talk of Tax Extenders Bill — Mopping Up After Tax Reform
I received this link to a recent article in Accounting Today from a colleague and a reader of The WOTC Planet. According to the article, Senator John Thune (Republican from South Dakota) has confirmed the Senate’s intention to act on expired tax incentives, which are typically reauthorized with a tax extenders bill. (more…)
- Published in Work Opportunity Tax Credit
Senate’s Late Night Vote on Tax Reform Keeps WOTC
United States Senate Chamber
Saturday just before 2:00 AM Eastern, the Senate voted to pass its version of the Tax Cuts and Jobs Act. The Senate’s bill remains silent on the Work Opportunity Tax Credit (WOTC), which the House version seeks to repeal.
In this circumstance, silence is golden if you prefer that the WOTC program remain in place. (more…)
- Published in Work Opportunity Tax Credit
So Far, So Good – WOTC Program Survives in Senate’s Revised Tax Reform Plan
Senator Orin Hatch, R Utah
Yesterday, Chairman Senator Orin Hatch (R, Utah) released a revision to the Senate’s tax reform proposal. The revision is scheduled today for markup before the Senate Committee on Finance. (more…)
- Published in Work Opportunity Tax Credit