Topics: work opportunity tax credit

IRS Issues Guidance on Work Opportunity Tax Credit

The IRS issued guidance expanding the definition of "targeted individuals" for whom employers may claim a Work Opportunity Tax Credit. Specifically, the IRS added qualified long-term unemployment recipients, effective January 1, 2016. The IRS is also modifying the applicable forms employers use to claim a Work Opportunity Tax Credit. More

Congress Passes Tax Extenders Legislation, Including Biodiesel Blenders Credit

Congress passed a tax extenders package that contains a clean, two-year extension of the biodiesel blenders credit (retroactive to Jan. 1, 2015). This is a significant victory for NATSO and the fuel marketing community. After months of intense advocacy efforts opposing a shift from a blender credit to a producer credit, Congress ultimately agreed with NATSO that a blenders credit is better for consumers and the best way to encourage domestic consumption of biodiesel. More

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