The Protecting the Americans from Tax Hikes Act of 2015 and Impact on WOTC
The House of Representatives just released the text of The Protecting Americans From Tax Hikes Act of 2015. If passed, this legislation would extend several tax credit programs, including the Work Opportunity Tax Credit (WOTC). In the current version the WOTC program is extended for a 5-year period, through 2019. In addition, this legislation would add an additional Target Group to the WOTC program for hiring Long-Term Recipients of Unemployment Recipients. This new Target Group would be effective for hires after 12/31/2015. The legislation would also extend the Indian Employment Credit and Empowerment Zone program for a 2-year period. We expect the House to vote on this legislation by the end of this week and the Senate to follow quickly thereafter.
As things develop, check back for more updates here on the Equifax Insights blog.
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