Ascentis Blog

Information to help HR and payroll managers, recruiters, and compliance officers become more effective.

HIRE Act materials starting to surface

Remember the HIRE Act? Well, it looks like there’s some material slowly starting to trickle out of Washington.
The IRS has released a new form that will help employers claim the special payroll tax exemption that applies to qualified newly-hired workers during 2010.

New Form W-11, Hiring Incentives to Restore Employment (HIRE) Act Employee Affidavit, is now posted on IRS.gov, along with answers to frequently-asked questionsabout the payroll tax exemption and the related new hire retention credit. The new law requires that employers get a statement from each eligible new hire, certifying under penalties of perjury, that he or she was unemployed during the 60 days before beginning work or, alternatively, worked fewer than a total of 40 hours for anyone during the 60-day period. Employers can use Form W-11 to meet this requirement.
For more information on the HIRE Act affidavit and exemption, including a Draft Form 941 revised for employers to use beginning with the second calendar quarter of 2010, please click here.

Category: Compliance, payroll
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