Yesterday, the Internal Revenue Service issued several important pieces of guidance on the 2010 FICA tax exemption and the 2011 retention credit for 2010 new hires under the Hiring Incentives to Restore Employment (HIRE) Act. This guidance is briefly summarized in the attached memo.

If you have any questions to be covered by an upcoming IRS Reporting Corner newsletter or wish to stay connected with various reporting and withholding updates related to employee benefits, please visit the IRS Reporting Corner.


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