The Internal Revenue Service ("IRS") recently released a revised Form 941, the Employer’s Quarterly Federal Tax Return, and related instructions to guide eligible employers in claiming the payroll tax exemption offered under the Hiring Incentives to Restore Employment ("HIRE") Act (H.R. 2847). The HIRE Act offers a tax exemption from having to pay the
credit
IRS Releases Information for Employers to Claim COBRA Assistance Credit on Payroll Tax Form
By Michael Moore on
Posted in Workplace Trends
On February 26, 2009, the Internal Revenue Service released detailed information that will help employers claim credit for the COBRA medical premiums they pay for their former employees.
Under the new law, eligible former employees, enrolled in their employer’s health plan at the time they lost their jobs, are required to pay only 35 percent…
Managing a Business and its Employees in Financial Crisis Requires Communication from HR
By Michael Moore on
Posted in Recruiting, Hiring, and Retention
The specter of business failure and personal financial setbacks wreak havoc on employee morale challenging Human Resources with dual management problems. First, HR needs to formulate a communication strategy to address the concerns of employees surrounding job security and compensation. Employee jitters surround the viability of their employer and the security of their jobs. Retirement savings evaporate as…
WARN Act’s Faltering Company Exception Clarified
By Michael Moore on
Posted in Employer Liability
Businesses face increasing uncertainty over the availability of financing because of the economic downturn and tightening of credit markets. Financially troubled businesses may need to curtail operations through a plant closing or mass layoff if additional financing is not received. Employers need to manage compliance with the Worker Adjustment and Retraining Notification Act (WARN) as their…