WOTC Legislation: House Passes One-year Renewal
On Wednesday, with a vote of 378-46, the U.S. House of Representatives approved H.R. 5771, the “Tax Increase Prevention Act of 2014”. Included in this bill is a one year extension of WOTC and other expired tax provisions including the Indian Employment Credit and the Federal Empowerment Zone Credit. The Senate is expected to pass similar legislation early next week.
This extension only covers the current hiatus period that began on January 1, 2014, and extends the credits through December 31, 2014. On January 1, 2015, these programs will enter hiatus again.