President Donald Trump said Monday that his administration will ask Congress to approve a possible payroll tax cut and provide "very substantial relief" for hourly workers and industries hit by the COVID-19 outbreak. "We are going to be asking tomorrow -- we're seeing the Senate. We're ...
To help employers contend with the uncertainty and challenges brought on by the COVID-19 outbreak, recent legislation has made new relief opportunities available. We outline the details of three of these opportunities—theemployee retention tax credit(ERTC), the paid sick leave credit, and the pai...
Payroll Relief Under the CARES Act Softens the Financial Impact of COVID-19 for EmployersLinkedIn Facebook X Send Embed 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 stabilize the U....
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:...
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 with other credits and tax rules as well as the Families First Coro...
Tax Credit Recognizing the fiscal impact of the Public Health Emergency Leave, the FFCRA provides a payroll tax credit for covered employers to cover the cost of the paid leave. The March 20, 2020, joint press release21by the IRS, DOL, and...
On April 28th, the Employee Benefits Security Administration (“EBSA”) of the Department of Labor (“DOL”), together with the Department of the Treasury, issued helpful guidance for retirement plans that extends certain deadlines and provides other relief in light of the national coronavirus outbr...
For more news on Paycheck Protection Program Fraud Enforcement, visit the NLRCriminal Law / Business Crimessection. Bank of America’s (“BofA”) misled its customers with false promisesto provide overdraft fee relief during the COVID-19 pandemic could proceed. ...
PPP Loansprovide employers with a loan amount equal to 2.5 times their average 2019 payroll (limited to $100K per employee). The loan is forgivable to the extent the loan proceeds are used for payroll in the 8 weeks following funding. Self-employed individuals qualify and ...
The expansion of the EIDL loan increase in September 2021 has been a big relief for most business owners in America. Application for it can be made if you satisfy the eligibility requirements You can apply for EIDL online through the SBA portal or even make an application via email. It is...