The U.S. House of Representatives yesterday passed H.R. 4213, the “Tax Extenders Act of 2009”, which has now been sent to the U.S. Senate.  The bill in its current form includes an extension of the WOTC program’s Hurricane Katrina provision, which would be extended through August 2010.  It does not yet, however, contain other desired WOTC program provisions.
The WOTC Coalition is lobbying the Senate to include at the minimum at least two additional important provision.  The first provision is a two-year extension of the WOTC program itself. Currently the program is set to expire in August 2011 and will require reauthorization at that time.
The second provision would be a new 5-year tax credit carry back provision.  A carry back provision would allow businesses to amend prior year tax returns to apply credit earned in subsequent tax years. — resulting in unexpected tax REFUNDS.
Let’s keep our fingers crossed.  Better yet, call, email and fax your Senators to urge inclusion of these WOTC provisions in the Senate’s version of the Tax Extender Act of 2009.