THE SENATE FINANCE COMMITTEE ANNOUNCES THE MARKUP OF THE EXTENDERS PACKAGE – WOTC is included, along with other hiring incentives
The Senate Finance Committee Chairman Max Baucus (D-Mont.) and Ranking Member
Orrin Hatch (R-Utah) will be meeting on Thursday, August 2, 2012 at 10 AM, in Washington,
D.C., to markup legislation extending tax-cutting provisions known as “extenders” that have
expired or will expire at the end of this year. The committee will also be trimming
back the number of provisions that have been traditionally included by close to 25
percent. The legislation includes benefits for small businesses, working families, research and
development and renewable energy initiatives. The business proposals for markup include the following
key provisions with a proposed effective and sunset date of 12/31/2011 – 12/31/2013:
· Work Opportunity Tax Credit
· Work Opportunity Tax Credit for Qualified Veterans
· Indian Employment Tax Credit
· Empowerment Zone Tax Incentives
· Research Credit
· New Markets Tax Credit
· Special expensing rules for certain film and television productions
· Expensing of environmental remediation costs
· New York Liberty Zone tax-exempt bond financing
The meeting webcast is available at http://finance.senate.gov/hearings.
TALX will continue to provide you with the most up to date information on the Extenders Package.
You may also choose to follow the Finance Committee for information on Twitter @SenFinanceCmte.
This weblog is sponsored by TALX.