Senate Finance Passes Tax Extender Bill – WOTC Included
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) proposed by Rep. Bill Pascrell, Jr. which I covered in a previous post, an amendment to WOTC was also passed that will extend eligibility to individuals who have exhausted their unemployment benefits. This tax extenders bill is expected to be voted on by the Senate early next week.
The House Ways and Means Committee will begin hearings on and development of its own tax extender bill in the near future.
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