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The Economic Stimulus Plan and Your Business

Signed into law on February 17, 2009, the American Recovery and Reinvestment Act of 2009 is a plan to grow the economy through tax relief and investments in health care, energy, and education.

Paychex is Ready. Is Your Business Prepared?

View and print answers to frequently asked questions about the economic stimulus plan. Updated 1/5/2010

Paychex has been monitoring the stimulus plan, as well as additional proposals that could have a significant impact on your payroll, taxes, retirement plans — and your bottom line.

Click the links below for more information

• A tax credit for workers, administered through employer payroll.
• The Work Opportunity Tax Credit (WOTC) for employers who hire from specific groups of prospective employees.
• Premium assistance, a special election period, and an additional plan enrollment option for COBRA recipients.

Recently Enacted Provisions

Beyond the economic stimulus plan, a provision to suspend the required retirement plan distribution for those aged 70½ and older was passed in December, 2008.

Accountant Customizable Client Piece

With all the complexity and urgency of the Economic Stimulus Plan, businesses need clarification and guidance. That's why Paychex has created a FREE Economic Stimulus Plan overview in English and Spanish that accountants can customize with their firm's logo or letterhead and send to clients. This is one more way that Paychex fulfills its goal of helping accountants enhance their role as their clients' most trusted advisor.

Are You Ready for What's Next?

Every year, Paychex monitors thousands of changes in local, state, and federal laws that affect our more than 500,000 U.S. business clients. No matter the outcome of the stimulus plan and other economic proposals, you can be assured that we will continue to take care of the administrative details — so you can focus on running your business.

Keep Up with the Latest Legislation

Please bookmark this page and visit often for the latest updates on the economic stimulus plan, as well as other pending government legislation.

For information about Paychex products and services, please complete our product request form for a no-obligation quote.

Any information provided by this website may no longer be viable subsequent to its issuance. Any information it provides is developed at the time of its issuance based upon facts and circumstances known at that time.

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