Hire Now Act of 2012

[AI summary unavailable — showing source text] 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.…