|
|
|
HIRE Act for Small Businesses
On March 18th, President Obama signed into law the Hiring Incentive to Restore Employment Act (HIRE). HIRE provides tax breaks for small businesses that hire and retain qualified unemployed workers. Provisions of the law include:
Tax Holiday. Employers receive a tax Holiday for their portion of the FICA tax for certain workers hired after February 3, 2010 and before January 1, 2011. An employer is excused from paying its share of the 6.2% of the first $106,800 of wages for the qualified employees during the calendar year. The maximum value for each qualified employee is $6,621. This tax Holiday does not include the Medicare Hospital Insurance contribution (1.45% on all wages), the federal unemployment or state unemployment taxes, and other state employment tax.
One location for Federal Forms
Lost and can’t find the Federal form you need? At Forms.gov you can search through more than 5,400 federal forms from over 172 federal agencies. You can search by the general topics such as: Taxes, Small Business, Social Security, Veteran benefits, and FEMA. You can also search by agency, form name, form number and by keyword.
Forms data is continually added and updated by agency partners.