Administration’s 2015 Budget Proposal includes Permanency of WOTC and IEC; Expansion of Credit for Hiring Veterans

Tax Credit Provisions

On March 4th, the White House released their 2015 budget proposal. Notable provisions  include permanency and expansion of targeted hiring tax credits to encourage employers to hire individuals traditionally facing barriers to employment.  Those provisions include: Permanent extension of Work Opportunity Tax Credit (“WOTC”) for those starting work after 12/31/13. An expansion of the definition [Read More...]

WOTC Renewed – Now Attention Turns to Hurricane Sandy Hiring Credits

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Late Wednesday evening, President Obama signed into law the American Taxpayer Relief Act of 2012, extending the Work Opportunity Tax Credit (WOTC) through the end of 2013. The WOTC extension is retroactive to the beginning of 2012 to cover the current hiatus that began on January 1, 2012. The measure also includes a retroactive extension of other [Read More...]