The IRS last month published the forms employers need to claim payroll tax breaks offered under the new HIRE Act. The law eliminates employers’ 6.2% Social Security payroll tax on wages paid to certain newly hired people who had been previously unemployed. Employers must obtain a statement from eligible new hires certifying that they qualify.
The forms include a new Form W-11 (HIRE Act Employee Affidavit) and a revised Form 941 (Employer’s Quarterly Federal Tax Return). Find links to the forms plus details about the new tax breaks at www.theHRSpecialist.com/hireact.