The Hiring Incentives to Restore Employment (HIRE) Act provided two incentives to employers in
2010: a payroll tax exemption and the New Hire Retention Credit. Those benefits were available
to employees hired between 2/4/10 and 12/31/10. The payroll exemption was claimed on the 2010
Form 941 payroll returns beginning with Q2. The original due dates were 7/31/10 (Q2), 10/31/10 (Q3)
and 1/31/11 (Q4). The federal statutes for those returns are three years. As a result, Q2 lapsed on
7/31/13 and the remaining returns will lapse on 10/31/13 (Q3) and 1/31/14 (Q4). Employers that hired
in 2010 are encouraged to claim these benefits that are capped at $7,621 per employee. Call or email
us for a free consultation.
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