Dear friends and associates.
Many of us have been involved with the Work Opportunity Tax Credit (WOTC) for years, even decades. We are experts. We’ve seen it succeed while noting its shortcomings and its gradual refinement over time. (more…)
Tag: Irs 8850
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According to a recent article in The Gazette of eastern Iowa, US Senator Chuck Grassley of Iowa predicts that many tax extenders will be renewed in 2014. Senator Grassley is the Senior Republican member on the Senate Finance Committee. (more…)
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Efforts to date have failed to include an extension of the Work Opportunity Tax Credit (WOTC) in any doc-fix legislation. The Senate Finance committee has turned away efforts to include WOTC in the proposed doc-fix reform bill. While the reform bill awaits further revision, it will not be voted on until 2014. In the mean time, a temporary doc-fix patch-up measure is expected to pass this week. (more…)
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It appears the opportunity for a general tax extenders bill has expired for 2013. With a contentious election year approaching, the nation will likely wait until 2015 before Congress takes up the issue — after the 2014 elections. This is truly unfortunate given that almost 60 tax provisions expire on December 31, 2013. Here’s the entire list, published by the Joint Committee on Taxation. The Work Opportunity Tax Credit (WOTC) is one of the expiring provisions. (more…)
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The National Journal reported yesterday:
Legislators on Thursday unveiled a bicameral, bipartisan proposal to repeal and replace the sustainable growth rate formula, which determines Medicare payments for physicians. One expert called it “above and beyond” anything else he’s ever seen.
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California Governor Jerry Brown signed legislation in July that repealed the state’s Enterprise Zone program (and all of the state’s other Economic Development Areas (EDA) programs). Additional “clarifying” legislation was signed in September, outlining an orderly demise for the programs. (more…)
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It is true that more important issues are currently before Congress. Nevertheless, our fiscal problems are leading Congress and the White House to an eventual sit-down meeting to hash out their very difficult differences. When that happens, current scenarios suggest WOTC will be included in that discussion. (more…)
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Although not new news, it’s important to reiterate. The Work Opportunity Tax Credit (or WOTC) has the stated support of the White House and the majority-party leadership in the U.S. Senate. In fact, the President’s budget proposes to make WOTC a permanent feature of the tax code (see previous posts).
With the stage now being set for budget talks, the WOTC Coalition is ready to press this issue. WOTC will be on the table for discussion. By no measure, however, is an extension a sure thing. We are approaching a key moment when WOTC proponents must intensify their lobbying efforts. (more…)PUBLISHED IN
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Proponents of a permanent Work Opportunity Tax Credit program are ready as the US House of Representatives sends a Continuing Resolution (CR) to the Senate this week. The CR offers temporary government funding and includes a provision to defund Obamacare. The Senate will not accept the OBamacare-defunding provision, which means the CR will be amended and sent back to the House, etc. etc. (more…)
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Max Shenker, writing for EZPolicyBlog.com, has for the past week been following new enterprise-zone legislation, CA AB 106. This bill attempts to clarify uncertainties stemming from the July legislation that killed California’s enterprise zone program. (more…)
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