Recovery Act 101
With much debate, the Recovery Act of 2009 was passed by Congress to help pull the U.S. from the grips of a historic recession. There are many provisions in the new law that could help package printers in these difficult times.
An additional change that businesses need to know about is that employees laid off from Sept. 1, 2008 through 2009 can elect to pay 35 percent of the COBRA benefits. The employer will need to pay the remaining 65 percent, while getting a tax credit for the amount against income tax withholding and payroll taxes.
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