Extension of Targeted Jobs Tax Credit : Scheduled for Markup By the Ways And Means Subcommittee On Select Revenue Measures Jcx-14-89
Extension of Targeted Jobs Tax Credit : Scheduled for Markup By the Ways And Means Subcommittee On Select Revenue Measures Jcx-14-89
United States. Congress. Joint Committee On Taxation
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The credit is available with respect to targeted-group individuals who begin work for the employer before January 1, 1990. Authorization for administrative expenses Present law also authorizes appropriations for administrative and publicity expenses relating to the credit through September 30, 1989. These monies are to be used by the Internal Revenue Service (IRS) and Department of Labor to inform employers of the credit program and for administrative expenses . Explanation of Proposal Extensio...n of the credit The Subcommittee could extend the targeted jobs credit for three additional years. Under the proposal the credit would be available for wages paid to targeted-group individuals who begin work for an employer after December 31, 1989 and before January 1, 1993. Authorization for administrative expenses The proposal also would extend the authorization for appropriations for administrative and publicity expenses to fiscal years 1990 through 1992. To the extent feasible, the Internal Revenue Service and the Department of Labor should inform employers (e.g., through press releases or announcements) of the extension of the credit.
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