TCS Business Updates
SourceCorp Professional Services and Tax Credit Services Announce Strategic Alliance
SourceCorp Professional Services, the nation's leading provider of specialized business tax services, announced today that it has formed a strategic alliance with Tax Credit Services, LLC...
Tax Credit Services, LLC. Featured in Memphis Daily News
The Memphis-based firm, which has satellite offices at other locations throughout the United States, has consultants on the Work Opportunity Tax Credit...
Read the full article at memphisdailynews.com
Tax Credit Services, LLC. Announces a Strategic Alliance with HR New Hire
HR New Hire announced a partnership with Tax Credit Services (TCS) under the TCS Advanced Partner Program to provide Work Opportunity Tax Credit (WOTC) services...
Tax Credit Services, LLC. Announces a Strategic Alliance with USVerify, Inc.
USVerify has partnered with Tax Credit Services through our Advanced Partner Program to provide Work Opportunity Tax Credit (WOTC) services.
Democrats Favorable to Including Bi-Partisan Extenders Bill in Next Tax Bill
Some rough politics are on the horizon as Congress tries to divert the U.S. economy’s path away from the 2013 fiscal cliff. A small but not unimportant element in this effort is the passage of a tax extenders bill covering WOTC,
empowerment zones and renewal communities, the research and development credit...
Tax Bill Signed Into Law, December 17, 2010
Today the President signed into law HR 4853 which is widely regarded as the law that would extend the Bush Tax Cuts for the American people, it contains other provisions as well. Our emphasis focuses on the impact that the new law has directly on businesses...
Electronically Signed Form 8850
Since the release of IRS Announcement 2002-44, TCS automated the Form 8850 application process in anticipation that state workforce agencies (SWA) would allow electronic submission of Form 8850. Unfortunately, SWA migration has been almost non-existent. TCS has met with members of the SWA, Department of Labor (DOL), US Congress and the US Senate, and we are pleased to report a huge step in favor...
The HIRE Act
The President signed the HIRE Act into law at 11:30am March 18, 2010. The law provides several different opportunities for businesses to capitalize on incentives for hiring additional employees...
H.R. 4213 - Tax Extenders Act
The House of Representatives passed a bill in December 2010 that extends through the end of 2010, beneficial tax credits and incentives that are available to businesses participating in certain activities or doing business in areas that are economically in need of development. On March 10, 2010, the Senate passed the legislation and will now go to a legislative committee before going to the President for signature and finally becoming law...
H.R. 3953 - "Back To Work Tax Act"
A bill has been introduced that would expand the Work Opportunity Tax Credit to include "Long Term Unemployed Individuals" as a target group which would make their employers eligible for up to $2,400 in Federal Tax Credits...
H.R. 3807 - "Economic Stimulus for Rural Communities Act"
This bill has been introduced by Congressman Phil Roe (R-TN) that would expand the Federal Work Opportunity Tax Credit (WOTC) to include "Rural Area Residents" to the growing list of target groups. This target group must live and work in a designated rural area and would be set to expire in 5 years...
H.R. 3784 - "Hire America Act"
A bill has been introduced in Congress that would expand the Federal Work Opportunity Tax Credit (WOTC) to include all new hires, not just those who are in the currently required Target Group Categories...
Change in Work Opportunity Tax Credit processing procedures
The Department of Labor issued Training and Employment Guidance Letter No. 3-09 Change 1 on Wednesday October 7, 2009. This notice is concerning Work Opportunity Tax Credit processing procedures by employers and consultants and gives guidance to the individual State Workforce Agencies (SWA) surrounding certification and documentation processes...
Lawmakers Asked to Extend Tax Incentives for Distressed Communities
Government officials and community revitalization experts asked House lawmakers to extend the federal tax incentives that are available in Empowerment Zones (EZ) and Renewal Communities (RC) programs before they expire at the end of 2009. In testimony before the House Ways and Means Subcommittee on Select Revenue Measures on October 7, the Housing and Urban Development (HUD) general deputy assistant secretary, said the Obama administration supports extending the tax incentives through 2010 in order to encourage business investment, economic revitalization and job creation...
California Department of Housing and Community Development Announces Five New Enterprise Zones to Boost California's Economy
Helping to grow jobs and improve California's business climate, the California Department of Housing and Community Development today announced the conditional designation for five Enterprise Zones statewide...
American Recovery and Reinvestment Act of 2009 Adds Two New Work Opportunity Tax Credit (WOTC) Categories
In response to the current economic conditions the President signed the American Recovery and Reinvestment Act of 2009 (H.R. 1) on February 17, 2009. The new law creates two new categories of targeted groups under the existing Work Opportunity Tax Credit...
Enterprise Zone Programs
Enterprise Zones are targeted areas that have been designated by state or local governments as blighted or economically depressed. Today roughly forty of the fifty states have designated zones to spur economic development in an effort to attract and retain businesses within these boundaries...