MENUMENU
  • FREE RESOURCES
  • PREMIUM CONTENT
        • SEE MORE
          PREMIUM RESOURCES
  • HR DEEP DIVES
        • Coronavirus (COVID-19) Resources for HR Professionals
          Employment Law
          Labor Law Posting Requirements: Everything You Need to Know
          Recruiting
          businesswoman selecting future employees on digital interfaces
          Recruiting Resources for HR & Hiring Managers
          Performance Management
          vector image of young female making star rating
          Performance Review Resources
          Employment Law
          Understanding Equal Employment Opportunity and the EEOC
          Recruiting
          Onboarding Resources for HR & Hiring Managers
  • CORONAVIRUS & HR

  • LOGIN
  • SIGN UP FREE

HR Morning

MENUMENU
  • FREE RESOURCES
  • PREMIUM CONTENT
        • SEE MORE
          PREMIUM RESOURCES
  • HR DEEP DIVES
        • Coronavirus (COVID-19) Resources for HR Professionals
          Employment Law
          Labor Law Posting Requirements: Everything You Need to Know
          Recruiting
          businesswoman selecting future employees on digital interfaces
          Recruiting Resources for HR & Hiring Managers
          Performance Management
          vector image of young female making star rating
          Performance Review Resources
          Employment Law
          Understanding Equal Employment Opportunity and the EEOC
          Recruiting
          Onboarding Resources for HR & Hiring Managers
  • CORONAVIRUS & HR
  • Employment Law
  • Benefits
  • Recruiting
  • Talent Management
  • Performance Management
  • HR Technology
  • More
    • Leadership & Strategy
    • Compensation
    • Staff Administration
    • Policy & Procedures
    • Wellness
    • Staff Departure
    • Employee Services
    • Work Location
    • HR Career & Self-Care
    • Health Care
    • Retirement Plans

IRS adds new 'W' series form to its roster

Kerry Fitzgerald
by Kerry Fitzgerald
April 12, 2010
2 minute read
  • SHARE ON

IRS just released a brand-new form, and it’s one many employers can’t live without.

The new Form W-11, Hiring Incentives to Restore Employment (HIRE) Act Employee Affidavit, must be filled out and signed by every new hire during 2010 – otherwise, the employer can’t qualify for the payroll tax exemption and related new-hire retention credit.
Under the new law, employers must get a statement from each qualifying new hire that certifies the person:

  • has been fully unemployed during the previous 60 days, or
  • worked fewer than a total of 40 hours for another employer during that time.

Employers can either use the Form W-11 or their own affidavit (as long as it contains all the necessary info) to meet this requirement. They should keep the affidavits along with other payroll and income tax records – not send them to IRS.
To claim the payroll tax exemption, employers will use Form 941, Employer’s Quarterly Federal Tax Return,  which should be released in its final version shortly. In the meantime, you can see the draft form here.  IRS expects to release one version for second-quarter reporting, and another new version for the third quarter and beyond.
The HIRE Act created two new benefits to encourage employers to hire and retain new workers:

  1. Payroll tax holiday. Companies that hire anyone unemployed for more than 60 days this year may qualify for the 6.2% payroll tax incentive, which exempts them from the employer’s share of Social Security tax on wages paid to these workers after 3/18/10.  Eligible workers must be hired after 2/3/10 and before 1/1/11. Employers must still withhold the new hires’ share of the Social Security tax.
  2. Retention ‘bonus.’ Employers that keep these new hires on the payroll for 52 consecutive weeks may also claim a retention credit of up to $1,000 per worker on their 2011 income tax returns.

Businesses, agricultural employers, tax-exempt organizations, tribal governments and public colleges and universities all qualify to claim the payroll tax. Household employers and federal, state and local government employers, other than public colleges and universities, are not eligible.

Get the latest from HRMorning in your inbox PLUS immediately access 10 FREE HR guides.

I WANT MY FREE GUIDES

Keep Up To Date with the Latest HR News

With HRMorning arriving in your inbox, you will never miss critical stories on labor laws, benefits, retention and onboarding strategies.

Sign up for a free HRMorning membership and get our newsletter!
  • This field is for validation purposes and should be left unchanged.
HR Morning Logo
  • Facebook
  • Twitter
  • Linked In
  • ABOUT HRMORNING
  • ADVERTISE WITH US
  • WRITE FOR US
  • CONTACT
  • Employment Law
  • Benefits
  • Recruiting
  • Talent Management
  • HR Technology
  • Performance Management
  • Leadership & Strategy
  • Compensation & Payroll
  • Policy & Culture
  • Staff Administration
  • Wellness & Safety
  • Staff Departure
  • Employee Services
  • Work Location
  • HR Career & Self-Care

HRMorning, part of the SuccessFuel Network, provides the latest HR and employment law news for HR professionals in the trenches of small-to-medium-sized businesses. Rather than simply regurgitating the day’s headlines, HRMorning delivers actionable insights, helping HR execs understand what HR trends mean to their business.

Privacy Policy Terms of Service
Copyright © 2021 SuccessFuel

WELCOME BACK!

Enter your username and password below to log in

Forget Your Username or Password?

Reset Password

Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.

Log In

During your free trial, you can cancel at any time with a single click on your “Account” page.  It’s that easy.

Why do we need your credit card for a free trial?

We ask for your credit card to allow your subscription to continue should you decide to keep your membership beyond the free trial period.  This prevents any interruption of content access.

Your card will not be charged at any point during your 21 day free trial
and you may cancel at any time during your free trial.

preloader