Thursday, March 18, 2010

03-18-2010: The HIRE act is enacted into law in an effort to combat nationwide unemployment rates. This $17.6 billion comprehensive job package encourages employers to hire new workers. Of particular importance to nonprofits, it relieves nonprofit employers from paying their 6.2 percent share of Social Security payroll tax for each new hire for the remainder of 2010. The U.S. Senate passes another jobs-related bill, which includes an extension of the IRA Charitable Rollover provision through 2010 that will now await approval in the House.