The Hiring Incentives to Restore Employment (HIRE) Act provides incentives in the form of a payroll tax break when employers hire qualified new employees after February 3, 2010 and before January 1, 2011. Unfortunately not everyone was aware of this provision however there are ways to go back and claim the benefit (6.2% on wages paid to eligible new hires). It can amount to significant tax savings.
For more information see this brief our State and Local Tax Group (SALT practice) published below:
Also, feel free to contact me if you or a company you know would like assistance in obtaining these benefits.
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