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Congress passes repeal of 3 withholding and provides tax credits for hiring unemployed veterans

  • Kelley Drye & Warren LLP
  • -
  • USA
  • -
  • November 17 2011

By an overwhelming bi-partisan vote, the U.S. Congress passed legislation (H.R. 674) yesterday which repeals a 2005 law that imposes a 3 income tax withholding on government contractor payments in excess of $10,000