empowerment zone Tax Incentives



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On January 2, 2013, the President signed the American Taxpayer Relief Act of 2012 which extended the Empowerment Zone Employment Credit for the 2013 tax year.

Eligible businesses may take advantage of IRS Tax Incentives when filing their annual tax return. Please review the “Empowerment Zone Tax Incentives Summary Chart” and/or forward to your tax preparer.

Updates concerning this information will be added to HUD’s Community Renewal webpage.

Resources – Links:

PowerPoint Slides
EZ Tax Incentive Summary Chart

Watch Webcast Video
Highlights (by time point within video):

6:31 EZ Designation
9:35 Eligibility: Address Locator
15:58 Tax Incentive: EZ Wage Credit
19:42 Tax Incentive: Work Opportunity Tax Credit
30:51 Eligibility: EZ Business Definition (35:50 Important Clarification)
36:11 Tax Incentive: Increased Section 179 Deduction
50:13 Non-Recognition of Gain on Rollover of EZ Asset

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