More guidance available regarding HIRE Act.
by TedThe IRS is issuing guidance as quickly possible on the many reporting issues created by the HIRE Act.
A final version of Form 941 for 2Q should be released by the IRS next week April 6th.
A new form W-11 will be released as well. This ‘Hiring Incentives to Restore Employment (HIRE) Act Employee Affidavit’ will be required for all employees eligible for this credit.
The Form W-2 will now include a new box 12 code of CC to report exempt wages and tips for qualified employees under the HIRE Act. The Form W-3 will also be altered to show the total of all the box 12 code CC entries.
For more information from the IRS, visit HIRE Act: Questions and Answers for Employers
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