2847) is a law in the 111th United States Congress to provide payroll tax breaks and incentives for businesses to hire unemployed workers.

[8] Employers may claim the credit after an eligible employee signs a statement affirming their previous unemployed status, such as Form W-11.

[9][10] The Act also extends the $250,000 deduction limit under Internal Revenue Code section 179 through 2010,[11] authorizes $20 billion for highway and transit projects,[12] and makes reforms to municipal bonds.

[2] Owners of these foreign-held assets must report them on US tax returns if they are worth more than $50,000 and those who do not would be subject to a 30-percent penalty on the balance of the account in question.

[13] However, allegedly as a result of FATCA, European banks such as Deutsche Bank, Commerzbank, HSBC, and Credit Suisse have been closing brokerage accounts for all US customers since early 2011 citing "onerous" US regulations, which FATCA made more complex when it went into effect in 2013.