(U.S. Vice President Mike Pence attends a press conference on the COVID-19 at the White House in Washington D.C. March 9, 2020. U.S. President Donald Trump said Monday that his administration will ask Congress to approve a possible payroll tax cut and provide "very substantial relief" ...
On March 25, 2020, the U.S. Senate voted unanimously (96-0) to pass the Coronavirus Aid, Relief, and Economic Security (CARES) Act as an attempt to...
3.Refundable Tax Credits- Employers may also take advantage of certain refundable tax credits available for payroll taxes for employees impacted by Covid-19. 4.General Relief- If you simply need assistance with resolving issues with the Internal Revenue Service (IRS), we resolve issues, including:...
Coronavirus Aid, Relief, and Economic Security Act (CARES Act)was additionally, signed by the President on March 27, 2020. It includes provision for an eligible employer to claim a refundable payroll tax credit for retaining employees during the COVID-19 crisis. An eligible employer, for purpose...
In the Oval Office speech, the president also called on the Congress to provide Americans with "immediate payroll tax relief," although a few lawmakers, both Democratic and Republican, have voiced opposition against the proposal. The president's remarks came as the World Health Organization declared...
Payroll Tax Changes in the CARES Act (1 CPE hour) $49.00 $31.28 Among several tax changes in the CARES Act are two providing payroll tax relief for many employers. This webinar explains the employee retention payroll tax credit and the delay for depositing payroll taxes. These rules interact...
Tax relief: Rebates on payroll taxes paid to date in 2020 and/or an extension of payment terms for the rest of 2020, along with a temporary waiver of ticket taxes and other government-imposed levies. ReadAlexandre de Juniac’s speech ...
Finally, for those business owners who chipped in to help their employees through these difficult times, the government has enabled employers to offer assistance and then get tax relief through what’s known as the “Section 139” tax deduction. “Section 139 allows an employer to make tax...
Payroll taxesSocial insuranceNumerous countries cut payroll taxes in response to COVID-19, including China, which reduced employer contributions by up to 21 percentage points. We use administrative data on more than 800,000 Chinese firms to evaluate payroll tax cuts as a business relief measure. ...
Maija Tait, president of the Union of B.C. Municipalities and mayor of Sooke, said the latest measures will give relief to small businesses and free up funds for local government. “UBCM will monitor the impact of these measures on the state of local governments finances, and work ...