The Work Opportunity Tax Credit was recently renewed for five years. Now Senator Rob Portman (R-OH) has introduced bipartisan legislation the Work Opportunity Tax Credit & Jobs Act (S.269) to make the Work Opportunity Tax Credit (WOTC), which encourages employers to hire individuals who face significant barriers to employment, permanent. The bill currently has five[…]
The Work Opportunity Tax Credit (WOTC) is currently scheduled to expire on 12/31/2020. CMS is keeping a keen eye out for any news on renewal for WOTC. As of 12/3 renewal is still pending. We will alert you as soon as there is an update. Legislative Outlook One of the aspects in favor of the[…]
Senator Rob Portman (R-OH) made an appearance last Friday on the Urban-Brookings Tax Policy Center podcast “Dollars and Sense”. During the podcast the Ohio Senator called for an expansion of the Work Opportunity Tax Credit and for making it permanent, and to update the qualifying categories due to Covid-19. WOTC Would currently expire on 12/31/2020.[…]
U.S. Senator Rob Portman (R-Ohio) announced that his amendment to the tax extenders bill that would make long-term unemployed Americans eligible for the Work Opportunity Tax Credit (WOTC) was adopted by the Senate Finance Committee. WOTC provides an employer tax credit of between $1,200 and $9,600 per employee for hiring and retaining veterans, ex-felons, the[…]