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WOTC Extension Bill Passes House, Moves On to Senate

SenateOn Wednesday, Dec. 3, the U.S. House of Representatives voted and passed an extenders bill, H.R. 5771 – Tax Increase Prevention Act. This measure extends the Work Opportunity Tax Credit (WOTC), Indian Hiring Credit and Empowerment Zones for one year, from January 1 to December 31, 2014.

The bill now moves to the Senate, where it may hit the floor for a vote on either Tuesday or Wednesday of this week. Although the Senate wanted a two-year extension, as indicated in the Senate version of an extenders package, the Expiring Provision Improvement Reform and Efficiency (EXPIRE) Act, a number of publications (Bloomberg, Politico, BNA, Roll Call, The Hill) indicate the Senate will likely accept the temporary extension and pass H.R. 5771.

While the short-term passage of WOTC and other extenders seems to be around the corner, attention to these provisions will not stop there. Senate leaders and the new administration are looking to continue the discussion as a part of overall tax reform early in 2015.

Learn more about leveraging WOTC and other tax credits from ADP.



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