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New HIRE Act Guidelines
On March 18, 2010, President Obama signed the Hiring Incentives to Restore Employment (HIRE) Act, providing employer incentives aimed at
restoring jobs lost in the latest economic recession. This $17.5 billion legislation includes new tax benefits directly related to hiring employees.
Learn about the HIRE Act. The IRS has published guidelines for employers planning on taking the tax credit provided under the HIRE Act.
Still have questions about the HIRE Act? Get answers to 34 frequently asked questions.
View updates on how the IRS is continuing to define eligibility for purposes of claiming the tax benefits under the Hiring Incentives to Restore Employment Act.
Making it Simple to Claim the Credit
APS has streamlined the process of claiming the credit for its customers.
All that the customer has to do is submit the completed form W-11 to their account manager, who then marks the employee as qualified under the HIRE act. Each payroll,
the cash requirement draft to the customers account will be automatically reduced by the credit amount (the employer's 6.2% Social Security tax). The quarterly 941 tax
payment will be adjusted, with the credit reflected on the 941 return and qualified wages reported on the employee's W-2. Each of these actions are automated in the system
improving the efficiency of the process and eliminating compliance risk.
Payroll Tax Updates |
APS keeps customers up-to-date by providing updates and expert analysis on important legislative updates coming out of Washington.
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