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If you have followed the news over the past couple months, then you are likely aware of the debate in Washington D.C. over the extension of the payroll tax holiday. In 2011, the payroll tax holiday was passed which reduced the employee portion of the social security payroll tax from 6.2% to 4.2%. On Friday …

The IRS’s attempt to close the “tax gap”, the difference between taxes owed and taxes actually paid to the IRS, is officially underway. The Employment Tax National Research Project is auditing 6,000 U.S. employers through 2012 to try and claim some of the $60 billion of uncollected employment taxes the IRS estimates make up the …

The IRS is continuing to define eligibility for purposes of claiming the tax benefits under the Hiring Incentives to Restore Employment Act (Pub. L. No. 111-147). According to QE19 of the FAQs About Qualified Employees, updated July 29 on the IRS website, individuals who were self-employed during the 60 days prior to the date of …

Still have questions about the HIRE Act? Check out the links below for answers to frequently asked questions about the incentive legislation which allows employers an exemption from remitting the 2010 employer portion of Social Security tax for qualified previously unemployed workers. Who is a qualified employee? An individual who has been unemployed or employed …

The IRS has released guidelines for employers planning on taking the tax credit under the employment incentive law (HIRE Act). In addition, they have also released a new form W-11 that the employee must complete and sign for the employer to claim the credit. Form W-11 does not need to be filed with IRS, but does need …