New economic stimulus law will find HR working closely with accounting

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in Employee Benefits Program,Employment Law,Hiring,HR Management,Human Resources,Small Business Tax,Small Business Tax Deduction Strategies

The politics of the economic recovery and stimulus bill President Obama signed Feb. 17 have been the talk of Washington for weeks. Now get ready to figure out what it really means for business.

Tip for HR pros: Plan on spending lots of time in the accounting department.

Tucked into the massive, $789 billion American Recovery and Reinvestment Act of 2009 (ARRA) are several provisions affecting HR. But because most require federal agencies to write new implementation rules, predicting how they will play out day-to-day will be like trying to hit a moving target.

Don’t expect firm guidance overnight.

Here’s a rundown of HR-related provisions that made the final cut in the stimulus bill, once House and Senate conferees reconciled competing versions of the legislation:

COBRA subsidies

The ARRA provides federal funding for eligible workers to receive a 65% subsidy toward continuation health insurance purchased u...(register to read more)

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