Pennies From Heaven (Or at least from Washington)

Jun 7, 10 • NewsNo Comments

Gary Steele, with our affiliated company Payroll Partners, has alerted us to an interesting opportunity.  If your church or organization has hired new employees recently, you may be eligible for a tax refund!  At our church breakfast last Thursday Gary told us the following:

“If you aren’t aware the HIRE Act was signed into law by President Obama March 18, 2010. Most tax reductions laws are a credit to Income Tax and therefore do not apply to churches. This one, however, does apply to churches because it is actually a reduction in the 6.2% Employer matching OASDI payroll tax (commonly referred to as FICA).

To qualify, an employer only has to have any employee hired after 2/3/2010 who did not work more than 40 hours in the 60 days immediately prior to his or her hire date to sign a W-11 IRS form to certify that fact. If this is done, then the Employer 6.2% matching QASDI tax is not paid on that individual for the remainder of 2010.”

For more information you can access a PDF at that details the new law.

If you think this might apply to you I would recommend you contact Gary at:

Gary Steele

Payroll Partners
3001 Medlin Dr Suite 125
Arlington TX 76015-2370
817 226-8111
817 467-9994 fax

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