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http://www.irs.gov/businesses/small/article/0,,id=220746,00.html QR8: How does application of the payroll tax exemption to wages paid to restaurant employees affect the 45B credit? A-QR8: Certain food and beverage establishments can claim a credit under section 45B of the Internal Revenue Code for social security and Medicare taxes paid or incurred by the employer on certain employee tips, referred to […]
http://www.irs.gov/newsroom/article/0,,id=221036,00.html 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 questions about 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, […]
The 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’ […]
Payroll Tax Incentives in New Jobs Bill Quick overview of two key tax changes affecting businesses in the recently enacted Hiring Incentives to Restore Employment (HIRE) Act. To help stimulate the hiring of workers by the private sector, the new law exempts any private-sector employer that hires a worker who had been unemployed for at […]