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Employers are eligible for a payroll tax credit when the employer hires certain new employees after February 3, 2010, and before January 1, 2011. [5] In order to take the payroll tax credit, the employee must have either been unemployed for at least 60 days prior to hire or worked fewer than 40 hours for another employer during the previous 60 ...
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (Pub. L. 111–312 (text), H.R. 4853, 124 Stat. 3296, enacted December 17, 2010), also known as the 2010 Tax Relief Act, was passed by the United States Congress on December 16, 2010, and signed into law by President Barack Obama on December 17, 2010.
Recent data from the Department of Labor indicates that unemployment remains a problem. As of February, the national unemployment rate was 9.7%. This rate is down from the 2009 high of 10.1% in ...
Consequently, for the years until 2010 and the first six months of 2011, the FUTA imposed a 6.2% tax (before credits) on the first $7,000 of gross earnings of each worker per year. [1] Once the worker's earnings reach $7,000 during a given year, the employer no longer pays any FUTA for that year with respect to that worker.
There's a lot you can be doing now to reduce the taxes you pay next year, based on tax changes for 2011. But did you know it's not too late to reduce the taxes you pay this year, when you file ...
By law, the thresholds for the marginal federal income tax brackets must change each year to keep pace with inflation. For 2010, those brackets are as follows: Individual Taxpayers 10% on taxable ...