Payroll Taxes - The HIRE Act was signed into law in 2010 providing payroll tax breaks for employers who hired qualified employees after Feb 19, 2010. If you were one of the fortunate employers busy enough to increase your workforce in 2010, it makes sense to amend your 2010 Form 941 quarterly federal tax returns if you have not already claimed the deduction. In addition, for those qualified 2010 hires retained for 1 year, you will be entitled to a $1,000 tax credit for each on your 2011 income tax return.