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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Tag: Otay Mesa California
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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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The Hesperia Enterprise Zone went live on April 1, 2010, when its formal designation was finalized by the California Department of Housing and Community Development.
That’s good news for businesses located within the new enterprise zone. It is also good for prospective employees throughout the region. The enterprise zone is designed to attract and retain business and to create jobs though investment and hiring incentives. (more…)PUBLISHED IN
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Good news for many businesses in Merced County California! The Merced County Board of Supervisors voted on Tuesday, April 13, to expand the Merced County Regional Enterprise Zone by approximately 1,877 acres.
California’s Enterprise Zones Hiring Credit program routinely provides $12,000 or more in state income tax credit per employee to businesses that hire qualifying workers within a zone. That’s just for the first year of employment! Tax benefits continue to accrue for up to 60 months of employment. (more…)PUBLISHED IN
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It hit the news today as Representative Lynn Jenkins, R-KS announced her Hire A Hero Act of 2010 during a press conference at the Museum of the Kansas National Guard. H.R.4859 was referred to the House Committee on Ways and Means earlier this year on March 15th. (more…) -
The following is directly from the IRS Newswire dated April 7, which I received about 39 hours ago. I reported on the new Form W-11 a few days ago after it was released in Draft form. The Draft Form W-11 has been officially upgraded to real.
Allow me to suggest that you go back and review my previous post. The Payroll Tax Holiday seems simple on its face; however, there are some operational questions in connection with the Work Opportunity Tax Credit (WOTC) that must be wrestled with (click here).
Please feel welcome to contact me with your questions. Call (800) 655-5281, ext 101 or e-mail me at vah@WOTCPLanet.com.
Directly from the wire….
WASHINGTON — The Internal Revenue Service today released a new form that will help employers claim the special payroll tax exemption that applies to many newly-hired workers during 2010, created by the Hiring Incentives to Restore Employment (HIRE) Act signed by President Obama on March 18.
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, that he or she was unemployed during the 60 days before beginning work or, alternatively, worked fewer than a total of 40 hours for anyone during the 60-day period. Employers can use Form W-11 to meet this requirement.
Most eligible employers then use Form 941, Employer’s Quarterly Federal Tax Return, to claim the payroll tax exemption for eligible new hires. This form, revised for use beginning with the second calendar quarter of 2010, is currently posted as a draft form on IRS.gov and will be released next month as a final along with the form’s instructions.
Though employers need this certification to claim both the payroll tax exemption and the new hire retention credit, they do not file these statements with the IRS. Instead, they must retain them along with other payroll and income tax records.
The HIRE Act created two new tax benefits designed to encourage employers to hire and retain new workers. As a result, employers who hire unemployed workers this year (after Feb. 3, 2010, and before Jan. 1, 2011) may qualify for a 6.2-percent payroll tax incentive, in effect exempting them from the employer’s share of social security tax on wages paid to these workers after March 18. This reduction will have no effect on the employee’s future Social Security benefits, and employers would still need to withhold the employee’s 6.2-percent share of Social Security taxes, as well as income taxes. In addition, for each unemployed worker retained for at least a year, businesses may claim a new hire retention credit of up to $1,000 per worker when they file their 2011 income tax returns.
These two tax benefits are especially helpful to employers who are adding positions to their payrolls. New hires filling existing positions also qualify but only if the workers they are replacing left voluntarily or for cause. Family members and other relatives do not qualify for either of these tax incentives.
Businesses, agricultural employers, tax-exempt organizations, tribal governments and public colleges and universities all qualify to claim the payroll tax exemption for eligible newly-hired employees. Household employers and federal, state and local government employers, other than public colleges and universities, are not eligible. IRS.gov has more details.
Related Item: IR-2010-33, Two New Tax Benefits Aid Employers Who Hire and Retain Unemployed Workers (more…)PUBLISHED IN
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This evening, we added a new link in the “Important Government Links” section on the WOTCPlanet.com main page. If you’re viewing the site, the links are listed down the right side of the page, as are other helpful offerings. The latest link is to the U.S. Department of Labor Employment and Training Administration’s Advisory System (aka “DOL ETA Advisories”). The Department of Labor’s website explains it this way:
The Employment and Training Administration (ETA) Advisory system is used to disseminate ETA’s interpretations of Federal laws, procedural, administrative, management, program direction and other information to the states, direct grant recipients and other interested parties.
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