Tax Credits Blog

Reauthorization of WOTC, EZ and Indian Tax Credits

President Trump signed the bill reauthorizing the Federal Income Tax Credits for WOTC and EZ
First of all, Happy Holidays to all.
President Trump gave us all a nice holiday gift when he signed the bill that reauthorizes the WOTC credits through 12/31/2020 It's only a 1year extension but I'm sure the WOTC Coalition will be hard at work next year to continue their efforts to make the credit part of the permanent tax law.
In addition, he authorized the Federal Empowerment Zone*** and Indian Employment Tax Credit programs RETROACTIVELY to 1/1/18. Any companies located within a federal zone can recapture lost credits for 2018 and 2019.
***If you think your place of business may be in a Federal Empowerment Zone, contact us and we'll check for you.
Ken Brice, President