To join in on this discussion, you must first log in.

Main Page

From TaxAlmanac, A Free Online Resource for Tax Professionals
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.

From TaxAlmanac

(Difference between revisions)
Jump to: navigation, search
Line 29: Line 29:
! <h2 style="margin:0;background-color:#B1D68B;font-size:120%;font-weight:bold;border:1px solid #7EBA41;text-align:left;color:#000;padding:0.2em 0.4em;">Featured article</h2>
! <h2 style="margin:0;background-color:#B1D68B;font-size:120%;font-weight:bold;border:1px solid #7EBA41;text-align:left;color:#000;padding:0.2em 0.4em;">Featured article</h2>
|-
|-
-
|style="color:#000"|{{TaxAlmanac:Featured article/January 18, 2010}}
+
|style="color:#000"|{{TaxAlmanac:Featured article/March 19, 2010}}
|}
|}
|class="MainPageBG" style="width:45%;border:1px solid #B1BCA1;background-color:#E3E7DD;vertical-align:top"|
|class="MainPageBG" style="width:45%;border:1px solid #B1BCA1;background-color:#E3E7DD;vertical-align:top"|

Revision as of 18:08, 19 March 2010

TaxAlmanac
The free online tax research resource and
community for tax professionals.

Overview · Quick Start Guide · A-Z Index · Explore · Help

Tax Research Library

Discussion Forums

Content by Category:

Featured article

Hiring Incentives to Restore Employment Act

Two New Tax Benefits Aid Employers Who Hire and Retain Unemployed Workers

IR-2010-33, March 18, 2010

WASHINGTON — Two new tax benefits are now available to employers hiring workers who were previously unemployed or only working part time. These provisions are part of the Hiring Incentives to Restore Employment (HIRE) Act enacted into law today.

Employers who hire unemployed workers this year (after Feb. 3, 2010 and before Jan. 1, 2011) may qualify for a 6.2-percent payroll tax incentive, in effect exempting them from their share of Social Security taxes on wages paid to these workers after March 18, 2010. This reduced tax withholding will have no effect on the employee’s future Social Security benefits, and employers would still need to withhold the employee’s 6.2-percent share of Social Security taxes, as well as income taxes. The employer and employee’s shares of Medicare taxes would also still apply to these wages.

In addition, for each worker retained for at least a year, businesses may claim an additional general business tax credit, up to $1,000 per worker, when they file their 2011 income tax returns.

“These tax breaks offer a much-needed boost to employers willing to expand their payrolls, and businesses and nonprofits should keep these benefits in mind as they plan for the year ahead,” said IRS Commissioner Doug Shulman.


In the News

Current Tax and Accounting

  • Tax Extenders Legislation Advances in Senate Accounting Today
  • Simplified Option for Claiming Home Office Deduction Now Available; May Deduct up to $1,500; Saves 1.6 Million Hours A Year IRS
  • House Ways and Means Chairman Camp Releases Tax Reform Proposal Accounting Today
  • IRS Offers Health Care Tax Tips to Help Individuals Understand Tax Provisions in the Affordable Care Act IRS

Recent Discussions

- This site is CLOSED - go to www.TaxProTalk.com
- COD exclusion-why use if don't need?
- Canadian NR has business in US
- Active S-Corp Dist in Excess of Basis and NII
- So much for June 1!

Did you know?

Five Key Websites For Tax Season

Did you know that TaxAlmanac was selected as one of the five key websites for Tax Season? Read more in The CPA Technology Advisor's article, Five Key Websites For Tax Season .

Contact Us – Submit Feedback – TaxAlmanac Media Coverage – Community Feedback


Personal tools