Last week, on August 5th, the Senate Finance Committee reported its version of the 2015 tax extenders bill, S 1946, The Tax Extension Relief Act of 2015.
“The Committee on Finance, having considered an original bill, S. 1946, to amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes, reports favorably thereon without amendment and recommends that the bill do pass.”
The Senate Finance Committee has scheduled a hearing to consider the Chairman’s markup of a new tax extenders bill. The Committee will consider the bill on Tuesday, July 21. In its current form, the bill would give the Work Opportunity Tax Credit a 2-year retroactive extension — January 1, 2015 through December 31, 2016. (more…)
The following update from Paul Suplizio, President of the WOTC Coalition, outlines a very time-limited potential opportunity to get WOTC back on track for 2014. To have any impact, WOTC supports will need to act promptly. Congress will wrap up its business and leave town by the end of this week for the Independence Day recess. (more…)
The markup of the Senate Finance Committee’s tax extenders bill, which was scheduled for Wednesday, has been postponed until Thursday. The bill’s formal name is the “Expiring Provisions Improvement Reform and Efficiency (EXPIRE) Act.
The Chairman’s Mark was published today and is available on the Senate Finance Committee’s website. It will be considered by the full Committee on Thursday, amendments offered and approved, etc. It will then pass before the entire Senate for a vote. (more…)
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…)
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…)