U.S. Senator max Baucus (D-Montana), introduced a bill today to provide a federal tax credit to employers that hire U.S. military veterans, including those who were activated by their states as National Guard members. Similar to the WOTC, the bill simplifies (apparently by replacement) some of the WOTC’s veteran provisions. Congressman Tim Walz (DFL-Minnesota) introduced an identical bill in the U.S. House of Representatives. (more…)
Tag: Locally Grown Fresh Fruits And Vegetables Credit
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Hot off the IRS Newswire!
Today, the IRS issued a new Form 941, especially revised to accommodate the HIRE Act’s 2010 payroll tax exemption program. For more information about the payroll tax exemption, see my previous posts right here on the WOTCPlanet.com. Click here for a collection of posts on this topic. (more…)PUBLISHED IN
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I received a call yesterday from a very nice Human Resources Manager asking about the HIRE Act’s Payroll Tax Exemption’s “family member” restriction. Employers can not claim the payroll tax exemption for wages paid to members of the employer’s family. Sounds simple, but exactly whose family members are restricted? Let’s explore this issue a little.
On the IRS website, in response to the question “Who are eligible employees?” the IRS responds:Qualified employees are individuals who begin employment with a qualified employer after February 3, 2010, and before January 1, 2011, who have been unemployed or employed for less than 40 hours during the 60-day period ending on the date such employment begins, and who are not family members of or related in certain other ways to the employer.
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Additional answers to Frequently Asked Questions (FAQs) about the HIRE Act’s 2010 Payroll Tax Exemption (PTE) have been published on the IRS website. Of particular interest should be the expanded FAQs about how to claim the PTE, including a new code on the form W-2 for employees whose wages are claimed under the program (see FAQ#25).
Oh, what the hey. I’ll just copy a load of them here for your convenience. (more…)PUBLISHED IN
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I pulled the title of this post from an article today by Jay Prag, a professor of economics and finance at the Peter F. Drucker School of Management in Claremont. His opinion piece was published Thursday in the Capitol Weekly: The Newspaper of California Government and Politics. (more…)
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Today in the Fontana Herald News, there is a short article announcing an upcoming workshop in San Bernardino. Here’s the announcement in full.
If you are interested, please take special note of the RSVP requirement in the last paragraph.
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Yes, it’s true. Our friends at the Shasta Metro Enterprise Zone have posted an updated address range list for the EZ’s Targeted Employment Area or “TEA.”
You ask, “What is a Targeted Employment Area?”
I answer, one of the many ways in which an employee can qualify to trigger California’s enterprise zone Hiring Credit for their employer is by residing within a Targeted Employment Area at the time of hire. It is what is says — an area targeted by the enterprise zone for increased employment opportunities. These are economically depressed residential areas that tend to suffer higher rates of unemployment. (more…)PUBLISHED IN
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San Bernardino County Supervisor Paul Biane published this interesting oppinion piece about his county’s support of private enterprise. It was published yesterday in The San Bernardino Sun. I particularly appreciate his mention of the San Bernardino Valley Enterprise Zone. (more…)
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Last week, Illinois Governor Pat Quinn signed into law a new state budget that includes a new tax credit for small businesses. (more…)
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