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HIRE Act Provides Tax Breaks for Hiring and Retaining Unemployed Workers

Release Date: April 06, 2010

In a renewed attempt to encourage new employment and stimulate the economy, Congress recently passed the Hiring Incentives to Restore Employment Act ("the HIRE Act"), which President Obama signed into law on March 18, 2010. Under the HIRE Act, a partial payroll tax "holiday" is available to qualified employers that hire unemployed workers, and a business tax credit is available if the employer retains such employees for at least a year. Companies that intend to hire new employees during the remainder of 2010 should consider whether they can take advantage of the tax benefits under the HIRE Act.

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If you have any questions about the HIRE Act tax incentives, please contact Robert W. Patterson at 716.843.3910 or rpatterson@jaeckle.com, or Michele O. Heffernan at 716.843.3850 or mheffernan@jaeckle.com.