The US House is schedule to vote on the tax bill today. The House Rules Committee, however, is allowing a vote on only one proposed amendment – an amendment to increase the estate tax. The rule allows no other motions or amendments on the bill.
While we hoped for an extension of the HIRE Act payroll tax exemption, that program will end for new hires (as it was originally scheduled) on December 31. Do not forget, however, that the HIRE Act’s worker-retention tax credit remains in play — many employees who qualified for the payroll tax exemption in 2010 will generate an additional income tax credit for their employer in 2011 after working for 52 weeks.
Some employers who participate in the Work Opportunity Tax Credit (WOTC) program will experience a small decrease in qualifications in 2011 as the Disconnected Youth and Unemployed Veteran target groups also expire. We are consoled, however, by the fact that the WOTC program itself has been renewed through 2011.
So, far now — for now — the fight is temporarily over. In 2011, we will be working with the new Congress to renew and extend as many of these provisions as feasible. If you’re interested in joining the WOTC Coalition and playing some role in the effort, contact Paul Suplizio, President of the WOTC Coalition. Visit the Coalition’s website at www.WOTCCoalition.com.
Free WOTC Eligibility Analysis
You need information you can act on! Request a free review of your company’s WOTC eligibility.
We’ll research your company’s unique circumstances and eligibility factors. You’ll get a realistic customized estimate of how much tax credit to anticipate.
Let us answer your questions! There is no risk and no commitment.
Begin now! Use the form to request everything you need.