Federal Tax Credit Program Extended

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<p><strong>St. Petersburg, Fla. &mdash; June 1</strong><br />The Employer Services segment of First Advantage Corp., a global risk-mitigation and business solutions provider, has announced that the Work Opportunity Tax Credit (WOTC) program, due to expire Dec. 31, has been extended by Congress for 44 months, through Aug. 31, 2011.<br /><br />The bill, H.R. 2206, Sec. 8211, is part of the Small Business and Work Opportunity Tax Act of 2007 that was approved by Congress and signed by the president late last week.<br /><br />&ldquo;As part of H.R. 2206, Congress instructed the IRS to develop procedures to allow for faxed and electronic versions of completed form 8850, as well as electronic signatures,&rdquo; said David R. Wirta, executive vice president of First Advantage&rsquo;s Employer Services segment. &ldquo;We are currently meeting with the Department of Labor and IRS representatives to provide input for the new processes.&rdquo;<br /><br />In addition to the 44-month extension, H.R. 2206 also:</p><ul><li>Expands the qualified veterans targeted group definition and increases qualified first year wages to $12,000 (Veterans category only).</li></ul><ul><li>Changes the &quot;high-risk youth&quot; category to &quot;designated community residents&quot; and raises the age ceiling from 25 to 39. This category is expanded to include rural renewal county residents.</li></ul><ul><li>Expands the definition of vocational rehabilitation referral.</li></ul><ul><li>Allows the provision that business tax credits generally can offset alternative minimum tax liability (AMT), which will increase the number of businesses eligible for the credit.</li></ul><p>First Advantage&rsquo;s Employer Services segment provides a comprehensive suite of global talent acquisition solutions specifically designed to reduce the time, cost and risk associated with candidate recruiting, applicant tracking, screening, assessments and ongoing retention processes. </p><p>Its tax-sonsulting services include strategies to reduce tax liabilities through Work Opportunity Tax Credits, location-based credits and grants, training grants, economic incentive services and sales and use tax consulting.</p>

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