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HIRE wages and tips paid to qualified employees.
The Hiring Incentives to Restore Employment (HIRE) Act exempts employers from the employer's share of social security tax (referred to as the payroll tax exemption) on wages paid to qualified employees from March 19, 2010, through December 31, 2010. For employers to report the corrected amount of wages and tips covered by the payroll tax exemption, we added a new code for box 12 of Form W-2c, Code CC, for HIRE exempt wages and tips. The corrected total of code CC is reported in new box 12b on Form W-3c. The corrected total of deferred compensation amounts, previously reported in box 12, is now reported in new box 12a on Form W-3c. See HIRE wages and tips paid to qualified employees on page 2.
The Hiring Incentives to Restore Employment (HIRE) Act exempts employers from the employer's share of social security tax (referred to as the payroll tax exemption) on wages paid to qualified employees from March 19, 2010, through December 31, 2010. For employers to report the corrected amount of wages and tips covered by the payroll tax exemption, we added a new code for box 12 of Form W-2c, Code CC, for HIRE exempt wages and tips. The corrected total of code CC is reported in new box 12b on Form W-3c. The corrected total of deferred compensation amounts, previously reported in box 12, is now reported in new box 12a on Form W-3c. See HIRE wages and tips paid to qualified employees on page 2.
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