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The Hiring Incentives to Restore Employment (HIRE) Act Employee Affidavit, Form W-11 , was released April 7 by the Internal Revenue Service. The new form will help employers claim the special payroll tax exemption that applies to many newly hired workers during 2010, IRS said.
The form will be used to confirm that the new hire is a qualified employee under the HIRE Act. Employers cannot claim HIRE Act benefits, including a payroll tax exemption or a new-hire retention credit, unless the employee completes and signs the affidavit or similar statement President Obama signed the HIRE Act (Pub. L. No. 111-147) into law March 18 (The new law also allows an additional income tax credit, up to $1,000, that is equal to 6.2 percent of paid wages for every new employee retained for 52 weeks. The Form W-11 affidavit is now posted on IRS.gov , along with answers to frequently-asked questions about the payroll tax exemption and the related new hire retention credit. |
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