American Staffing Association (12/17/14) Toby Malara
One of the final bills of the 113th Congress, which would extend a variety of expired tax credits to both businesses and individuals through the end of the year, was approved late last night. The legislation allows taxpayers to claim the tax credits on their 2014 returns.
Included in the package is the Work Opportunity Tax Credit, a federal tax credit available to employers that hire individuals from certain groups who have consistently faced significant barriers to employment. Many staffing firms benefit from this program. The one-year extension covers eligible claims for 2014.
Last month, the American Staffing Association joined more than 500 associations and nonprofit groups in signing a letter calling for Congress to make permanent several tax credit programs, including the WOTC.
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