TALX Reports Congressional Reinstatement of Federal WOTC/WtW Tax Credits
December 11 2006 - 3:23PM
Business Wire
TALX Corporation (NASDAQ: TALX) today reported that the United
States Congress has passed legislation reinstating the Federal Work
Opportunity (�WOTC�) and Welfare to Work (�WtW�) tax credits
retroactively to January 1, 2006, when these tax credits went into
hiatus. The legislation, which remains subject to Presidential
approval, reinstates the WOTC and WtW tax credit programs through
December 31, 2007 and, beginning January 1, 2007, expands
eligibility for the WOTC tax credit, including extending the age
for food stamp recipients from 25 to 40 and removing the ceiling on
family income for ex-felons. William W. Canfield, president and
chief executive officer, commented, �We are very pleased that these
credits will be restored retroactively, providing our clients
valuable tax relief and, at the same time, assisting a variety of
individuals in securing gainful employment. TALX expects to begin
realizing revenues related to these tax credits in our fiscal
fourth quarter ending March 31, 2007. During the first six to nine
months of calendar year 2007, we anticipate recognizing revenues
related to both the hiatus period and the credits submitted for
qualification in 2007. We appreciate that our Congress continues to
support these valuable programs and hope the President signs the
bill soon.� Statements in this news release expressing or
indicating the beliefs and expectations of management regarding
future performance are forward-looking statements including,
without limitation, anticipated revenues related to tax credits to
be realized in fiscal and calendar year 2007, and any other plans,
objectives, expectations and intentions contained in this release
that are not historical facts. These statements reflect our current
views with respect to future events and are based on assumptions
and subject to risks and uncertainties. These risks and
uncertainties include, without limitation, whether the President
ultimately approves and signs the legislation and the level of
activity by customers of our WOTC and WtW tax credit and incentive
services. These risks, uncertainties and other factors may cause
our actual results, performance or achievements to be materially
different from those expressed or implied by our forward-looking
statements. We do not undertake any obligation or plan to update
these forward-looking statements, even though our situation may
change. TALX Corporation, based in St. Louis, Missouri, is a
leading provider of human resource and payroll-related services and
holds a leadership position in automated employment and income
verification as well as unemployment tax management. TALX provides
over 9,000 clients, including three-fourths of Fortune 500
companies, with Web-based services focused in three
employment-related areas: hiring, pay reporting, and compliance.
Hiring services include assessments and talent management,
paperless new hires, and tax credits and incentives. Pay reporting
services include electronic time tracking, paperless pay, and W-2
management. Compliance services include employment and income
verifications through The Work Number, unemployment tax management,
and I-9 management. The company�s common stock trades in The NASDAQ
Global Select Market under the symbol TALX. For more information
about TALX Corporation, call 314-214-7000 or access the company's
Web site at www.talx.com.
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