1040, Capital Building, Cash

Lawmakers Reach Deal on Tax Extenders

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It appears after several weeks of negotiations, Congressional leaders finally reached an agreement on a tax extenders package. The Work Opportunity Tax Credit (WOTC) is included in the bill.

The Work Opportunity Tax Credit would be extended through December 31, 2016.

The House is expected to vote on the tax bill on Thursday, then the Senate would likely vote on the bill on Friday.

The Work Opportunity Tax Credit is a tax incentive designed to create new jobs and offers tax credits to employers that hire individuals from certain target groups.

Employers can earn up to $9,600 in tax credits for each qualified new hire.

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For more information please contact Marcel Abandonato at marcel@mja-associates.com or 951-272-8294.

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