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Don’t Miss Out on Payroll/HR Tax Credits

06.16.10

Shawn Courtney, President of Eriks USA asks:
With all the new legislation, what questions should I ask my payroll and HR provider to ensure that we’re in compliance?
First, be sure you’re getting the appropriate tax credits. Under the HIRE Act, employers can exclude their portion of social security taxes for the eligible individuals hired who have not worked more than 40 hours in the past 60 days. This tax break runs through the end of 2010. With COBRA, if an employee was involuntarily terminated up through May 31, 2010, they may be eligible to pay their former employer 35% of the COBRA premium and the employer can receive a 65% tax credit for up to 15 months. Missing these tax credits can be very costly.

Jeff York
Partner and Executive VP of Sales
Paycom DFW
HRIS / PAYROLL PROCESSING



posted by Rachel Meador on 06.16.10 • comments (0) • HRIS / Payroll Processing