We’ve stumbled upon a situation that might create confusion for businesses that qualified for the 5-year carryback of General Credits under a provision of the Small Business Jobs Act of 2010.
I received a call on October 11 (just a couple weeks ago) from an Arizona restaurant owner who was a little confused by conflicting information about the carryback provision for the Work Opportunity Tax Credit. (more…)
While the President’s and other government websites do not yet reflect an updated status for the bill, we were able to get this odd photograph from the President’s September Photos of the Day page. The caption reads, “President Barack Obama greets small business owners after signing the Small Business Bill in the East Room of the White House, September 27, 2010.” (more…)
According to House Majority Leader Steny Hoyer (Dem) the U.S. House of Representatives will vote on the Small Business Jobs Bill next week. HR 5297 was passed by the Senate earlier this week, and sent back to the House for approval. It is believed that if the bill passes the House this time, it will also be signed by President Obama. (more…)
The U.S. Senate has passed HR 5297, the Small Business Jobs Bill, by a vote of 61-37. The bill, which will be highly beneficial to some of my clients, must now go back to the House of Representatives for reconsideration there.
If passed into law, this bill will include a number of provisions relevant to hiring-based tax incentives like the Work Opportunity Tax Credit and the federal Empowerment Zone Employment Credit. (more…)