Congress Passes Spending Bill, Great News for Work Opportunity Tax Credit (WOTC) Customers

WASHINGTON — Congress on Friday morning overwhelmingly gave final approval to a sweeping, year-end fiscal package that includes a $1.15 trillion spending measure as well as $620 billion in tax breaks (including Work Opportunity Tax Credits) for businesses and low-income workers. The bill now goes to the White House, where President Obama has said he[…]

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Keeping an Eye on the status of Tax Extenders for 2016

As we are quickly approaching 2016, we at CMS are keeping a watchful eye on Congress as they negotiate over tax extenders, the dozens of expiring and already expired tax breaks, including Work Opportunity Tax Credits – http://www.finance.senate.gov/. Will the Internal Revenue Service commissioner John Koskinen have to issue another warning that tax season could[…]

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Senate Approves Tax Extenders through 2016

In a decisive 23-3 vote on July 21, the Senate Finance Committee approved a two-year extension of numerous tax provisions.  The group of over 50 credits and deductions, collectively known as tax extenders, expired on December 31, 2014 and would be extended through the end of 2016 if the bill is  approved by Congress and[…]

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Senate Extends Tax Credits

CMS is excited to report that the U.S. Senate has passed a $42 billion package of tax incentives. The bill H.R.5771 extends Business Tax Extenders through 2014, including the Work Opportunity Tax Credit #WOTC. CMS’s Brian Kelly tells us “While this means that the credit will expire in two weeks, on December 31st 2014, CMS expects that[…]

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CMS Brian Kelly, in Washington DC

IRS Urges Congress to Pass Extenders Act

Now the IRS is pressing Congress to step up and pass the Extenders Act The so-called “tax extenders” represent about 50 expired tax laws which expired at the end of 2013, including the Work Opportunity Tax Credits “WOTC” for businesses. IRS Commissioner John Koskinen admonished Senate Finance Committee chairman Ron Wyden (D-Ore.) and his commission[…]

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