If you do business in a federally-designated empowerment zone in certain urban and rural areas, you may be eligible for special tax breaks. These breaks were extended through 2016. The IRS announced that the zones that had previously been designated will remain in effect for 2016. However, the designation of the District of Columbia as an enterprise zone eligible for various tax breaks expired at the end of 2011 and was not extended.
Don’t miss today’s blog post: Dress Codes Are Dead?