HR 6030
112th Congress
House
Taxation
Accounting and auditing
Corporate finance and management
Employee hiring
Income tax credits
Income tax deductions
Oil and gas
Tax administration and collection, taxpayers
Wages and earnings
Hire Now Act of 2012
Introduced: June 27, 2012
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 27, 2012
Referred to the House Committee on Ways and Means.
Jun 27, 2012
Introduced in House
Plain-English summary
Hire Now Act of 2012 - Amends the Internal Revenue Code to: (1) allow certain employers a tax credit for 10% of the excess (if any) of the wages and compensation paid to their employees in 2012 over the amount of such wages paid in 2011, up to a maximum amount of $5 million; (2) prohibit major integrated oil companies from using the last-in, first-out (LIFO) accounting method; and (3) deny major integrated oil companies a tax deduction for intangible drilling and development costs.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1