05.14.14 |
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Tax Extenders Get Closer to Reality

Following the April 3 voice vote by the Senate Finance Committee, the Expire Act – which includes a two-year extension of expired tax provisions shutterstock_152161292-300x198including the Work Opportunity Tax Credits (WOTC), Indian Employment Credit, and Enterprise Zones as well as the new WOTC category for individuals who have exhausted their unemployment insurance benefits – is now one step closer to approval. On May 13, the U.S. Senate invoked cloture by a vote of 96 to 3 and agreed to proceed to the Expire Act, which is an encouraging indication that the Senate may reach an agreement and obtain the votes needed to pass the act.

Next steps? The Senate will now debate the underlying bill and will have to decide what amendments are in order. Stay tuned for further updates!


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