Business tax credits extended

“The Relief Act extended the availability of several business tax credits that had expired. Most notably, it extended the deadline for employing individuals whose wages are eligible for the Work Opportunity Tax Credit. Congress tinkered with the rules-now, all eligible employees (i.e., employees who belong in one of the “targeted groups”) must be hired by Dec. 31, 2014. Before, there was one deadline for “qualified veterans” and another deadline for the other targeted groups. In addition, the Research Credit was retroactively extended, with modifications, and the Employer-provided Child Care Credit was permanently extended.