March 31, 2020 by Allison Stevens
Background The new law establishes a payroll tax credit for employers subject to closure or experiencing economic hardship due to COVID-19. The business must meet one of two tests for its wages to qualify for the credit: 1. Business is fully or partially shut down due to orders from a...
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The Coronavirus Aid, Relief, and Economic Security Act was signed by President Trump on March 27, 2020. As part of this new law, stimulus rebate payments will soon be getting sent to most individuals. Taxpayers are eligible for a rebate payment equal to the sum of $1,200 ($2,400 for joint...
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March 26, 2020 by Morgan Bartkowski
As part of the Families First Coronavirus Response Act (FFCRA), the Department of Labor (DOL) has posted on their website a required notice about the law. Each covered employer must post this notice of the FFCRA requirements in a conspicuous place on its premises. An employer may satisfy this requirement...
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March 24, 2020 by Allison Stevens
FAMILIES FIRST CORONAVIRUS RESPONSE ACT The Families First Coronavirus Response Act, has been signed by the President and includes mandatory paid leave requirements and related tax credits that will affect many small businesses. These new rules are effective April 2, 2020. Required Paid Leave Employers with fewer than 500 employees...
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The IRS issued guidance on March 21, 2020 allowing a deferral of federal income tax filings and payments until July 15, 2020. All individual, corporate and other non-corporate tax filers may defer federal income tax (including self-employment tax) filings and payments due on April 15, 2020 until July 15, 2020...
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