IRS Form: Draft Instructions on Empowerment Zone Employment Credit (IRC §1396)

Draft instructions for Form 8844, Empowerment Zone Employment Credit, to reflect the credit’s extension and interaction with other employment credits, released October 5. The Taxpayer Certainty and Disaster Tax Relief Act of 2020 permitted the empowerment zone designations to be extended through 2025, and on May 26, 2021, all empowerment zone designations were extended from December 31, 2020, to December 31, 2025, in accordance with the automatic procedure in Revenue Procedure 2021-18 for a state or local government in which an empowerment zone is located to extend the empowerment zone designation, the instructions state. Certain wages used to figure ...