As you may recall, the American Recovery and Reinvestment Tax Act of 2009 expands the Work Opportunity Tax Credit Program to include two new eligibility categories — Disconnected Youth and Unemployed Veterans. (more…)

Below is a reprint in full of a brief article published today in the June 2009 issue of California’s FTB Tax News for Tax Professionals.
June 2009 – The Enterprise Zone (EZ) tax incentive program was created in 1986 to help local businesses, and encourage outside businesses to locate in economically depressed areas. The federal government does not have a comparable economic development program or business tax incentives. (more…)

The June 2009 issue of FTB Tax News for Tax Professionals came out today and included two items about the California Enterprise Zone program. The first article is technical in nature, titled “Credit Limits for Limited Liability Companies.” (more…)

We reported yesterday that the IRS has issued IRS Notice 2009-28, providing statutory definitions for the new WOTC eligibility categories of Unemployed Veteran and Disconnected Youth. There is more good news.
The IRS has issued a May 2009 revision of IRS Form 8850 “Pre-Screening Notice and Certification Request for the Work Opportunity Credit.” This revision includes pre-screening questions for the two new categories. (more…)