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WOTC |
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Under IRC section 51, the WOTC provides an incentive for employers to hire economically disadvantaged individuals including qualified exfelons, food-stamp recipients, veterans, summer youth employees and persons receiving certain welfare benefits. The legislation, which remains subject to Presidential approval, reinstates the WOTC and WtW tax credit programs through December 31, 2007 and, beginning January 1, 2007, expands eligibility for the WOTC tax credit, including extending the age for food stamp recipients from 25 to 40 and removing the ceiling on family income for ex-felons. Canfield noted, "We continue to monitor the status of the Work Opportunity, or WOTC, and Welfare to Work, or WtW, federal tax credits, which have been in hiatus since January 1 and which are not likely to be reinstated during our fiscal third quarter. |
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