Directly from the wire….
WASHINGTON — Two new tax benefits are now available to employers hiring workers who were previously unemployed or only working part time. These provisions are part of the Hiring Incentives to Restore Employment (HIRE) Act enacted into law today. (more…)
Today, as anticipated, the U.S. Senate approved the amended HIRE Act, which had been passed back from the House on March 4th (see previous post). As you may recall, this bill includes a Payroll Tax Forgiveness program. For qualifying workers, this will relieve employers of the 6.2 percent FICA tax expense during 2010. If such a worker remains employed for at least 52 weeks, the employer receives a $1,000 income tax credit for 2011. (more…)
Published today by KXO Radio, out of El Centro, California, I found these thoughts by California Assemblymember V. Manual Perez entitled, Maximizing Our Tools for Economic Recovery. Assemblyman Perez is a strong proponent of California’s enterprise zone tax incentives program and has been holding hearings to explore the effectiveness and potential improvements to the program. (more…)