Hiring Incentives to Restore Employment

Overview

The Hiring Incentives to Restore Employment (HIRE) Act was signed into law by President Obama on March 18, 2010. The HIRE provides tax incentives intended to encourage the hire and retention of previously unemployed workers.

This legislation includes both a payroll tax exemption and an employee retention credit. The payroll tax exemption provides employers with an exemption from the employer’s 6.2% share of Social Security tax on wages paid to qualifying employees from March 19, 2010 through December 31, 2010. In addition, business may claim the New Hire Retention Credit up to $1,000 for each worker retained 52-consecutive weeks. Both incentives are claimed by amending prior year returns.

FCG

We integrate the HIRE screening seamlessly with our EZ and WOTC services to eliminate the administrative burden of claiming each of these incentives. Our process includes the following:

• Issue information request
• Identify qualified employees
• Provide questionnaires and related forms
• Review completed forms
• Calculate payroll exemption
• Track employees to claim New Hire Retention Credit
• Deliver final report
• Assist with filing returns
• Provide audit support (as needed)