Someone asked me recently (1) if the District of Columbia enterprise zone is considered to be a federal empowerment zone and (2) if all residents of the District of Columbia would be eligible employees for purposes of the empowerment zone employment credit.
There are ways in which the Washington DC zone is not exactly like other empowerment zones. For purposes of the empowerment zone employment credit, however, it’s a relatively simple concept. (more…)
As reported by Jamie Dupree Washington Insider, Senate Majority Leader Harry Read’s office has released a summary of elements included in the Senate’s version of the tax compromise between President Obama and Congressional Republicans. The list is long and may include other provision of interest to you. For my purposes, however, this post focuses on employment-based tax incentives (and the much prized R&D credit). (more…)
Congress passed the Continuing Resolution yesterday, providing funds to keep the government going through December 3rd. While many hoped the legislation would include Senator Baucus’ Tax Extenders Bill, those hopes were dashed. That, however, was not a surprise. (more…)
Recently, I’ve received inquiries about Congressional efforts to extend the expired Hurricane Katrina provision of the Work Opportunity Tax Credit Program. Here’s the latest as I understand it.
The Hurricane Katrina WOTC provision has NOT yet been extended. But it is part of the currently idle Baucus Job Creation and Tax Cuts Act — also known as the Baucus Tax Extenders bill. (more…)