Business Tax Credits Included in Bipartisan Budget Act
Retroactive Extension for IEC and FEZ Employer Tax Credits Proposed
The Bipartisan Budget Act of 2018 (H.R. 1892) was approved by Congress and signed by the President on Friday, February 9, 2018. This is good news for many employers, as the signed budget deal maintains two long-standing federal employer tax credits, the Indian Employment Credit (IEC) and the Empowerment Zone Employment Credit (FEZ). Included is a one year, retroactive extension for both IEC and FEZ tax credits, from December 31, 2016 through December 31, 2017.
IEC allows businesses a maximum credit of $4,000, while the FEZ would provide a credit up to $3,000. Both business credits had previously expired on December 31, 2016.
To learn more about these business tax credits, read our recent blog post that contains specific detail about eligibility. Ready to see what additional tax credits may be available for your business? We can help, Click here!
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