Get ready, get set, hire! – Jobs bill offers tax incentives for hiring (and keeping) the unemployed

Description

Abstract: The Hiring Incentives to Restore Employment (HIRE) Act offers payroll tax breaks for employers that hire unemployed workers, plus additional credits for qualified workers they retain for at least 52 consecutive weeks. It also extends the enhanced Section 179 expensing allowance and makes several other tax changes. This article looks at the details, while a sidebar examines whether it’s better to take this act’s payroll tax exemption or a Work Opportunity Tax Credit.