by jsullivan | Jan 7, 2021 | covid-19
The Coronavirus Disease 2019 (COVID-19) stimulus package signed into law by President Trump on Dec. 27 contains significant enhancements to the employee retention tax credit enacted under the CARES Act. The credit initially provided a 50% tax credit, which is...
by jsullivan | Nov 16, 2020 | covid-19
Annually during the month of November, the Department runs a payment/deposit frequency change program for all active employer withholding tax accounts. The payment/deposit frequency for the next calendar year may or may not be changed based upon the amount of withheld...
by jsullivan | Oct 13, 2020 | covid-19
The Small Business Administration (SBA) has released a simple one-page forgiveness application for Paycheck Protection Program (PPP) borrowers who obtained loans of $50,000 or less. The new application removes calculations required on prior forms and simplifies...
by jsullivan | Sep 4, 2020 | covid-19
The IRS also clarified whether employers or employees have the controlling decision of whether to implement the reliefAdditionally, the IRS clarified timing aspects of the deferral Deferring the employee portion of Social Security tax is optional, the IRS confirmed...
by jsullivan | Sep 1, 2020 | covid-19
n Aug. 28, the IRS issued Notice 2020-65, allowing employers to suspend withholding and paying to the IRS eligible employees’ Social Security payroll taxes, as part of COVID-19 relief. The payroll tax “holiday,” or suspension period, runs from...
