HR and Payroll Software Blog

President Obama has signed into law the Hiring Incentives to Restore Employment (HIRE) Act, which is focused on accelerating the hiring of unemployed workers.

The Act contains a payroll tax exemption and a separate tax credit for employers that hire unemployed workers after 02/03/2010 through 12/31/2010 and retain that employee for at least 52 consecutive weeks

Tax Incentives for your company:

• Payroll tax exemption of the employers share of Social Security taxes on wages paid to these workers after March 18, 2010. 
• Employer tax credit of up to $1,000 per worker .

The HIRE Act is aimed at providing hiring incentives to restore some of the jobs lost in the latest economic recession. The goal is to help put Americans back to work as soon as possible. Business owners that hire qualifying workers sooner rather than later will get the most out of the tax credits, as the tax credits diminish over time, disappearing completely by January 1, 2011.

NuView Systems provides comprehensive payroll and tax filing services as part of  its HR & Payroll Software Suite.

As part of our continued commitment to service our clients, NuView Systems is actively working on a solution to ensure compliance with this new act.

Since eligible employers will be able to claim the new tax incentive starting in 2Q 2010, NuView will be releasing functionality in time to take advantage of this act.