The VOW to Hire Heroes Act was signed today by President Obama. (see Business Week article from today.) As previously mentioned, this bill expands the eligible-veterans categories under the Work Opportunity Tax Credit (WOTC) program and extends the new categories through December 31, 2012. Unless the legislative language was modified prior to final passage, my understanding is that the new WOTC categories will become effective immediately. (more…)
US Teasury Department Says Employers Missing Out on 2010 Payroll Tax Exemption – Obama Will Likely Push for Extension
I found this piece by Deborah Solomon, published online today by the Wall Street Journal.
While accurate statistics will not be available until year’s end when companies complete the filing of their tax returns, anecdotal evidence suggest the HIRE Act’ 2010 Payroll Tax Exemption is far from being fully utilized by U.S. employers. In response, President Obama’s Treasure Department is expected to begin marketing the program more aggressively. The Obama Administration will also probably seek to extend the program beyond its current December 31, 2010 expiration date. (more…)