Rep. Aaron Schock Introduces WOTC Renewal Bill

WOTC Bill Renewal - law

In the wake of the stalling of “The Expire Act”, Aaron Schock of Illinois, a member of House Ways and Means, has introduced H.R. 5264 “To amend the Internal Revenue Code of 1986 to make the work opportunity credit permanent.”  This measure would extend WOTC permanently, and also retroactively renew WOTC to cover the current [Read More...]

WOTC Renewal – Expire Act Stalled

WOTC legislation sign

There have been recent rumors that a new path for WOTC renewal might be attached to a bill on the Senate floor for providing emergency funding for the highway trust fund.  While every avenue for WOTC renewal should be pursued, it is unlikely that WOTC could be part of the aforementioned transportation bill.  Certainly, Congress [Read More...]

Tax Intelligence – Maximizing WOTC ROI

August Tax Intelligence Bulletin

As the Work Opportunity Tax Credit (WOTC) is currently in hiatus status, it is more important than ever for companies that hire to ensure that their WOTC capture program is as effective as it can be to ensure maximum credit value generation once the program is renewed.  Recall that even when WOTC is in hiatus, [Read More...]

WOTC screening – Meijer shows the way!

state targeted hiring programs

Meijer shared some terrific insights in a webinar on tax credits and how to put together an outstanding WOTC screening program.  Their goal: 100% screening compliance and 100% forms compliance. Sound impossible? They get VERY close to that, with 99% screening compliance company wide and 100% forms compliance. The attendees showed just how hard that [Read More...]

Meijer on Hiring Tax Credits – a Webinar

exact-target-person

How can you get MORE out of your hiring tax credit program? Join us and a guest speaker retail giant Meijer to hear some great ideas on the subject.  Melissa Ackerman, HR Analytics Analyst at Meijer, will talk about best practices for partnering with your tax department and maximizing your hiring tax credit dollars. Maximizing [Read More...]

Senate Finance Passes Tax Extender Bill – WOTC Included

Senate finance

As expected and hoped, the Senate Finance Committee passed a version of a tax extenders bill that includes a two year extension of WOTC (through the end of 2015), as well as the Indian Employment Credit and the Federal Empowerment Zone credit.  In addition, based on the earlier “Long-Term Unemployed Hiring Incentive Act” (H.R. 3726) [Read More...]

Senator Wyden Releases Draft of Tax Extender Markup

Cyber-security Sharing Bill

Senator Ron Wyden, Chairman of the Senate Finance Committee, has released a draft of a proposed markup for a tax extenders bill that will be be put up for a markup and vote today, April 3rd.  Notably, the proposal includes a three year extension and renewal (retroactive one year, and a two year extension until  December [Read More...]

WOTC and Tax Extenders to be Addressed in April

congress

Both the leadership of the House Ways and Means Committee and Senate Finance committee have indicated that they will address the expired Tax Extenders, including WOTC, with hearings and a bill markup session as soon as next week.  This is by no means a “slam dunk” for renewal, but both these committees are key efforts [Read More...]

WOTC Legislative Activity Heating Up

US Senate

There has been some recent legislative activity as it relates to WOTC renewal and the Tax Extenders.  Ron Wyden, soon to lead the Senate Finance Committee pending the exit of Max Baucus, has expressed his desire to deal with the tax extenders in an expeditious manner.  Speaking on the overall extenders, that include WOTC, Mr. [Read More...]

President Obama Presents Plan for “Promise Zone” Tax Credits

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In an effort to encourage economic investment in targeted geographic areas, President Obama has introduced his plan to establish “Promise Zones” to “ensure that hard work leads to a decent living for every American.”  The plan includes raising minimum wage, “high quality” preschool programs, and making targeted investments while “partnering with communities to help them [Read More...]