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We have been waiting for this!
The IRS has released IRS Notice 2015-13, which provides transition relief given the late retroactive renewal of the Work Opportunity Tax Credit program in December 2014.
Notice 2015-13 waves the 28-day deadline for submitting IRS Form 8850 (the WOTC Pre-screen Notice) for qualifying employees hired in 2014. The extended deadline for submitting the applications for affected employees is now April 30, 2015. From the Notice: (more…)PUBLISHED IN
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On Friday Pres. Obama signed HR 5771, the Tax Increase Prevention Act of 2014 into law. While employers can be glad their efforts to utilize the Work Opportunity Tax Credit and other tax incentives during 2014 were not wasted, we are now faced with a new expiration date approaching in only 12 days. (more…)
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Last night the House of Representatives passed a massive $1 trillion spending bill, after which House members began skipping town. Unfortunately, the spending bill was viewed as the final hurtle to jump on members’ way to Christmas vacation.
With the House no longer in session, the Senate is left with the option of passing HR 5771 (tax extenders) as it was originally delivered by the House or simply letting it die. Amendments to the bill would require it to go back to the House for approval but that is no longer an option. (more…)PUBLISHED IN
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Tonight, I am passing along observations from Paul Suplizio about the US Senate’s progress towards a tax-extenders bill. Additional action on the floor is anticipated by Thursday. So far, however, Democrat and Republican Senate Leaders have not revealed the nature of any agreements they might have reached. (more…)
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