Reminder: HIRE Act gives employers a tax break on some new workers

08/4/2010 | BusinessWeek.com

Employers who hire workers between Feb. 3 this year and Jan. 1 are eligible for a tax credit, thanks to the Hiring Incentives to Restore Employment Act. To be eligible for the credit, which essentially exempts employers from paying Social Security taxes on the employee's wages, the employer would have to hire a worker who is unemployed at the time. The Treasury Department reported that 5.6 million new workers had been hired from February to June.

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