The State of South Carolina issued the following information to Work Opportunity Tax Credit (WOTC) consultants today: The Internal Revenue Service (IRS) has granted tax relief for victims of Hurricane Irma in South Carolina. For those affected by the disaster, the tax relief extends the 28-day Work Opportunity Tax Credit (WOTC) filing deadline to January[…]
On Thursday morning, The House of Representatives passed H.R. 3823, the Disaster Tax Relief and Airport and Airway Extension Act of 2017, signed by President Trump on Friday last week. The Hurricane Harvey, Irma and Maria employee retention credit for any taxable year is an amount equal to 40 percent of the qualified wages with[…]
Democrats criticized a Republican-crafted disaster tax relief package Monday for providing victims of Hurricanes Harvey, Irma and Maria with benefits that were not approved after Superstorm Sandy in 2012. The opposition kept the bill, which was introduced Friday and brought up under a special procedure, from getting the needed two-thirds majority needed for passage as[…]