As expected, IRS issued a ruling on 2015 WOTC form submission. We are now afforded the opportunity to submit anyone hired that was missed in 2015. I am attaching the full ruling for your review.
The house just approved the Protecting Americans From Tax Hikes Act of 2015. This bill reauthorizes the WOTC program retroactive to 01/01/2015 through 12/31/2019. The Work Opportunity Tax Credit (WOTC) was modified and extended through 2019.
On May 25, 2007, the President signed into law the Small Business and Work Opportunity Tax Act of 2007. This legislation extends the WOTC Program through August 31, 2011. This Act and the Tax-Relief and Health Care Act of 2006 signed into law on December 20, 2006, amend certain target group definitions, introduce new provisions that expand and streamline the WOTC Program, and make it easier for the business sector to participate.
The White House wants to work with Congress after the November 7 elections to push through the tax-cut extenders now stalled in the Estate and Extension of Tax Relief Bill of 2006 (trifecta bill) (HR 5970), according to Office of Management and Budget (OMB) Director Robert Portman.
The Senate on February 2 approved a substitute amendment to the House tax reconciliation bill, the Tax Relief Extension Reconciliation Act of 2005 (HR 4297), paving the way to begin a conference on the $70 billion package of tax relief.