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In this issue:

  • The HIRE Act
  • Spring renewal notices are in the mail!
  • Why not use your 20% discount to try CFS LivePayroll?
  • Introduce a friend to CFS and you both save money!

The HIRE Act
Under the Hiring Incentives to Restore Employment (HIRE) Act, enacted March 18, 2010, two new tax benefits are available to employers who hire certain previously unemployed workers ("qualified employees").

The first, referred to as the payroll tax exemption, provides employers with an exemption from the employer's 6.2 percent share of social security tax on wages paid to qualifying employees, effective for wages paid from March 19, 2010, through December 31, 2010.

In addition, for each qualified employee retained for at least 52 consecutive weeks, businesses will also be eligible for a general business tax credit, referred to as the new hire retention credit, of 6.2 percent of wages paid to the qualified employee over the 52 week period, up to a maximum credit of $1,000.

In order to take advantage of the exemption, employers are required to get a statement from each eligible new hire that he or she worked fewer than a total of 40 hours during the 60 days before beginning work. Employers can use the new Form W-11 to meet this requirement.

Form W-11 has been added to CFS TaxTools, Small Business Tools, and Payroll System. The HIRE Act will also require changes to Forms 941, W-2, and W-3. They will be updated in CFS Payroll System when the approved forms become available.

If you have one or more of the above CFS programs, make sure that you update to the latest version(s) containing the new forms. You can update from within the programs by selecting "Update from the Web" from the "Internet Options" menu, or you can download the updates here and manually install them.

Spring renewal notices are in the mail!
Click to renew onlineYou may have already received your CFS Spring Renewal mailer—
if not, it will arrive soon. Included are:

  • A renewal form for software, forms, and tax return supplies;
  • A copy of our spring software catalog;
  • A copy of our spring paper products catalog;
  • A copy of the "CFS Software News" newsletter; and
  • A business reply envelope.

Renew by May 31, 2010, to:

  • Apply last year’s vouchers to this year’s order;
  • Earn vouchers on this year’s order to apply to next year’s order;
  • Take 20% off forms, envelopes, folders, checks, and labels; and
  • Take 20% off any first-time software purchase.

Remember—you can save time by using your MyCFS online account to renew your CFS products. To log in to your MyCFS account and access your renewal information, click here. If you don't have a MyCFS account, it's easy to register. Just go to TaxTools.com and click on "Create Account" under the MyCFS menu, or click here. You will need to provide a valid e-mail address and a password. NOTE: If you renew online, you do not need to return the paper renewal form.

Renew early and save money—renew online and save time!

Why not use your 20% discount to try CFS LivePayroll?
If you renew your CFS software by May 31st, you can take 20% off any first-time software purchase. Why not use this opportunity to try our latest product, CFS LivePayroll?

  • Print returns and paychecks in minutes with the same intuitive,
    easy-to-use interface found in other CFS programs.
  • LivePayroll
  • Process live payroll or enter paychecks after-the-fact with CFS 941/940 (included).
  • Enter payroll data on a daily, quarterly, monthly or paycheck basis.
  • Automatically calculate wages based on the employee’s annual salary or hours worked and hourly rate, federal withholding, state withholding, local withholding, Social Security, Medicare, and other payroll deductions.
  • Customize income, tax, and deduction items for each employer.
  • Print pay stubs or checks.
  • Print to preprinted checks or blank check stock using included MICR font (a $139 value).
  • Produce payroll for an unlimited number of employers with an unlimited number of employees.
  • Import QuickBooks® after-the-fact paycheck data to save data entry time.
  • Use all features of CFS 941/940, included with your purchase at no extra charge.

Introduce a friend to CFS and you both save money!
Have you heard about our Customer Referral Program? Refer a new customer to CFS, and that customer will receive a 20% discount on his or her first CFS order. At the same time, you will receive a 20% discount on any single CFS program.

For details and to download a referral form, go to TaxTools.com and select "Referral Program" from the Purchase menu, or click here.

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