Intuit plans to update its Intuit Payroll service to reflect the HIRE Act that President Obama signed into law on Thursday.
The HIRE Act offers qualified employers a temporary payroll tax break for hiring qualified previously unemployed workers. It also includes an increased business tax credit for retaining qualified workers for at least 52 weeks. The benefits can be substantial: up to $6,621 in payroll tax credits and up to $1,000 in business tax credits per eligible employee.
The payroll tax credits are delivered to eligible employers through reduced Social Security taxes, which will lower payroll taxes for the employer. After the legislation is enacted and the IRS releases guidelines, Intuit will update its payroll services to support these changes. Intuit is offering a free 30-day trial of its Intuit Online Payroll service. For more information, visit www.usepayroll.com/HireAct.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access