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Last week, on August 5th, the Senate Finance Committee reported its version of the 2015 tax extenders bill, S 1946, The Tax Extension Relief Act of 2015.
“The Committee on Finance, having considered an original bill, S. 1946, to amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes, reports favorably thereon without amendment and recommends that the bill do pass.”
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The Senate Finance Committee has scheduled a hearing to consider the Chairman’s markup of a new tax extenders bill. The Committee will consider the bill on Tuesday, July 21. In its current form, the bill would give the Work Opportunity Tax Credit a 2-year retroactive extension — January 1, 2015 through December 31, 2016. (more…)
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Senator Tom Udall of New Mexico has reintroduced legislation that would extend the Work Opportunity Tax Credit’s veteran target groups through 2018 (and retroactively to January 1, 2014). The bill would not extend non-veteran target groups. (more…)
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It is time to think about updating your Work Opportunity Tax Credit (WOTC) pre-screening documents.
The IRS’ latest revision to Form IRS 8850, “Pre-Screening Notice and Certification Request for the Work Opportunity Credit” is dated March 2015. I do not notice any material changes to the form. (more…)PUBLISHED IN
