This is a request for reader feedback on an issue related to the HIRE Act worker retention tax credit that many employers are claiming with their 2011 federal income tax returns.
Question: Has anyone filed IRS Form 8886 “Reportable Transaction Disclosure Statement” (or had any related experience) in connection with service fees for the HIRE Act new hire retention tax credit program? (more…)
Tag: Enterprise Zone Sales Or Use Tax Credit
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On March 16, 2012, the WOTC Planet told you about Delaware Governor Jack Markell’s support of a new tax credit for employers that hire military veterans in the State of Delaware. Almost five months later, we have more good news.
The Veterans Opportunity Tax Credit program was signed by the Governor on July 31st. (more…)PUBLISHED IN
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It is quite sad. Just 2 days before the Senate Finance Committee completed its markup of the Family and Business Tax Cut Certainty Act of 2012, the Department of Labor issued Training and Guidance Letter (TEGL) 04-2012.
TEGL 04-2012 introduces the Department’s updated Form ETA 9061, which is the Individual Characteristics Form included in the WOTC program’s employee-application for certification. (more…)Department Of Labor, Empowerment Zones, Family And Business Tax Cut Act Of 2012, Form Eta 961, Senate Finance Committee, Summer Youth, Tax Extenders, Tegl 04 2012, Work Opportunity Tax Credit, Wotc ExtentionRead more: ETA Form to Be Short Lived – Empowerment Zone Omitted from New WOTC Characteristics FormPUBLISHED IN
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Good news came smiling out of Washington, D.C. this week for the Work Opportunity Tax Credit (WOTC) program and a number of other tax extenders. Some of you have contacted me with leads and insights, for which I thank you all.
On Wednesday, Senator Max Baucus, Chairman of the Senate Finance Committee (a Democrat) and Senator Orin Hatch, the Committee’s top ranking Republican announced that a bipartisan agreement had been reached for the nervously-awaited tax extenders bill. (more…)PUBLISHED IN
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The U.S. Senate voted today to pass a Democrat version of the 2012 tax cut bill. The House of Representatives introduced its own Republican version yesterday and will vote on it next week. While neither proposal addresses WOTC or the majority of other tax extenders, no one expects either version to become law. And so the tug of war continues. (more…)
Congressman Aaron Schock, Middle Class Tax Cut Act Of 2012, Paul Suplizio, Representative Dave Camp, Senate Majority Leader Harry Reid, Tax Extenders, Tax Hike Prevention Act, Work Opportunity Tax Credit, Wotc, Wotc CoalitionRead more: Tax Tug of War Continues – Tax Extenders Missing but Still on RadarPUBLISHED IN
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Paul Suplizio of the WOTC Coalition gave an analysis this morning of the current situation in Congress as it relates to renewal of WOTC and other tax extenders. While there is little chance of of immediate passage, there are important political milestones to be laid at this time. (more…)
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Sometimes, the best I can do is to simply pass good news directly on to you, readers of The WOTC Planet.
Following is a correspondence from Paul Suplizio, President of The WOTC Coalition. It is published here with his permission. (more…)PUBLISHED IN
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Very good news for advocates of extending the Work Opportunity Tax Credit (WOTC)! Another influential Republican has announced that she will co-sponsor H.R. 2082, the WOTC Improvement Act. H.R. 2082 proposes to extend WOTC for three years while making various improvements to the program.
According to the Bill Summary and Status published by the Library of Congress, H.R. 2082 currently has 24 cosponsors . . . including Congressman Dan Lungren, my Representative for California district 3. (more…)PUBLISHED IN
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John Sandusky of Tax Incentive Group, LLC just brought this to my attention.
Congressman Pat Tiberi (R-OH), Chairman of the Subcommittee on Select Revenue Measures has announced a new hearing to consider HOW Congress should evaluate individual tax extender programs. Surprise! The hearing is today at 9:30 AM. (more…)PUBLISHED IN
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On Wednesday, the New York State Senate passed the 2012 NEW JOBS-NY Job Creation Plan, which must now go before the state Assembly for consideration. Among many other provisions, this plan would provide the following new hiring-based incentives. (more…)
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