The Fiscal Cliff and WOTC – Inching Toward a Solution
As noted yesterday, Congress and the White House are working feverishly to pass legislation that will avert the fiscal cliff. Some progress was made today and a “framework” has emerged from the Senate that has all the ingredients needed to avert the myriad expirations and tax increases set to go into effect tomorrow. Importantly, this framework does include an extension of the business tax extenders, including WOTC, for one year through the end of 2013 and one year retroactive to cover 2012. Note that this is only a “framework” and it considered a template for the eventual agreed upon solutions.
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