Bulletin – TCI: Federal Tax Credits Set to Expire
CALL FOR ACTION: Federal Tax Credits set to expire
The Federal Empowerment Zone Tax Credit (EZ) and the Federal Indian Employment Credit (IEC) are set to expire December 31, 2016. These extremely popular federal tax credits encourage investment, improve employment opportunities, and stimulate growth in distressed communities. These credits have faced elimination before, but this year will be crucial and renewal will be difficult.
Federal Empowerment Zones – Provide a tax credit to businesses located in impoverished areas to hire and retain employees who also live in these qualified zones. The credit equals 15% of up to $20,000 in wages paid to qualified employee.
Federal Indian Employment Credit – Businesses receive a tax credit of up to $4,000 per qualified individuals who live on or near an Indian reservation. A qualified employee is an enrolled member of an Indian tribe, or the spouse of an enrolled member.
CALL FOR ACTION! Contact your Senators and U.S. Representatives who represent the Federal Empowerment Zones and the Federal Indian Employment Credit communities. Congress needs to hear how the programs are benefiting employers, employees, and the communities.
The following link will allow you the opportunity to support the extension of the Federal Empowerment Zones and the Indian Employment Credit. The link allows you to send a prewritten letter to encourage your Senators and U.S. Representative to support the programs.
1. Go to the following link www.wotcmeansjobs.com
2. Click on the “Take Action” button (upper right corner)
3. Choose the EZ or IEC “Take Action” link (you can support one program or both)
4. Complete “Your Information” and click “Take Action”
5. Select the Congressional delegates listed
Equifax Workforce Solutions supports the renewal of the Federal Empowerment Zones and the Federal Indian Employment programs.
Contact us here or reach out to your Account Manager (AM) if your company is interested in receiving more information on employment tax credits.
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