Posted by : Catherine Baker
| Date posted : 08/06/2011
The Hiring Incentives to Restore Employment Act 2010 ("HIRE") was signed into force by President Obama on 18 March 2010. As the name suggests, it provides tax incentives for hiring and retaining qualified workers.
The US government was naturally eager to convey the message that HIRE would curb the record high unemployment rates in the US. Who could possibly argue or object to that? However the devil was in the detail, and many soon began to question the Act's real purpose when it was announced that the Foreign Account Tax Compliance Act ("FATCA") rules were being introduced as part of HIRE.
Calling All Americans.pdf309kB