The Internal Revenue Service (IRS) has created a new webpage to assist employers with questions on the Hiring Incentives to Restore Employment (HIRE) Act, recently enacted legislation that provides tax breaks to employers that hire and retain new employees in 2010.
The “HIRE Act: Questions and Answers for Employers” page provides frequently asked questions and answers broken down by two major categories: the payroll tax exemption for hiring qualified workers and the business credit for retention of certain newly hired individuals in 2010.
Sub-categories on the payroll tax exemption include FAQs about the payroll tax exemption and qualified employers; qualified employees; and claiming the payroll exemption. A menu of the questions and answers is available on the IRS website.
Also see BLR’s previous coverage of the HIRE Act.
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