IRS Commissioner John Koskinen in a letter to Senate Finance Committee Chairman Ron Wyden (D, OR) regarding the expired tax extenders:
To avoid . . . serious problems, I respectfully urge you and other Members of Congress to address this issue expeditiously…. it would be detrimental to the entire 2015 tax filing season and to millions of taxpayers if Congress fails to provide clear policy direction before the end of November.
If you have been following WOTC in the news lately, there hasn’t been much to follow. The political process has been occupied elsewhere. You might, however, have notice a few interesting odds and ends. (more…)
With the support of Republican ranking member, Orin Hatch of Utah, Senate Finance Committee Chairman Senator Ron Wyden of Oregon has presented an amendment to included the EXPIRE Act in the Senate’s highway bill. The EXPIRE Act would renew the Work Opportunity Tax Credit (WOTC) and dozens of other tax extenders through 2015.
Paul Suplizio of the WOTC Coalition reports this morning that the Senate Finance Committee has adjourned for the Independence Day recess without a vote on the bill.
Between now and when the Senate reconvenes after July 7th, Senators Wyden and Hatch will be seeking a bipartisan agreement on the bill. According to Mr. Suplizio, the probability is high that EXPIRE will be a part of the bill when it comes before the Senate. (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…)
This update from Paul Suplizio, President of the WOTC Coalition, offers some additional details about the fiscal cliff bill passed by the Senate late tonight.
Contrary to my earlier observations, Paul states that the bill DOES include VOW to Hire Hero provisions in its extension of the Work Opportunity Tax Credit. Hopefully, I was wrong. I like Paul’s version better.
Paul also makes some important observations about recent Hurricane Sandy relief efforts — including a proposal to expand the WOTC Program with a new Hurricane Sandy target group. (more…)
Some rough politics are on the horizon as Congress tries to divert the U.S. economy’s path away from the 2013 fiscal cliff. A small but not unimportant element in this effort is the passage of a tax extenders bill covering WOTC, empowerment zones and renewal communities, the research and development credit, and others similar tax incentives. (more…)
We’ve been watching developments closely, and today we finally have something concrete although not what we’ve been hoping. While the possibility still remains for a Senate tax extenders bill before the recess, it appears that the House will not move until after the November elections.
Paul Suplizio, President of the WOTC Coalition shared the following correspondence with coalition members last night. It is published here with permission. (more…)
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…)