Senator Rob Portman (R-OH) made an appearance last Friday on the Urban-Brookings Tax Policy Center podcast “Dollars and Sense”. During the podcast the Ohio Senator called for an expansion of the Work Opportunity Tax Credit and for making it permanent, and to update the qualifying categories due to Covid-19. WOTC Would currently expire on 12/31/2020.[…]
Law 360 Tax Authority has reported that lawmakers have begun to work on a fourth relief package that could pass Congress by May if the economy continues to sputter from the impact of COVID-19. That measure, which could focus on rebuilding the nation’s crumbling infrastructure, may turn out to be a perfect vehicle for dozens[…]
President Trump is expected to sign the $1.4 Trillion Spending Bill tomorrow which was passed by the U.S. Senate this afternoon 71-23. The U.S. House passed the bill on 12/17/2019. The legislation extends dozens of tax credits (tax extenders – including the Work Opportunity Tax Credit for one year) and incentives for biodiesel producers, brewers,[…]
House passes sprawling $1.4 trillion spending deal, sends to Senate ahead of Friday shutdown deadline (Washington Post) The House today approved a massive $1.4 trillion spending package that would stave off a looming government shutdown and fund the federal government through next September. The legislation also extends dozens of tax credits (tax extenders – including[…]
Keep up-to-date with the Work Opportunity Tax Credit with these recent news articles about WOTC: Tax Writers Hope to Address Tax Extenders Before they Expire at the end of 2019, Including the Work Opportunity Tax Credit Bloomberg reports that Lawmakers returning from recess will begin working on the contours of a tax package that they[…]
Bloomberg reports that Lawmakers returning from recess this week will begin working on the contours of a tax package that they hope to pass by the end of the year. Provisions that are set to expire at the end of this year could carry other smaller items in a tax package, said George Callas, a[…]
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[…]
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[…]
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[…]
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[…]