Hey Compliance Warriors! More guidance has been provided on the subject of withholding requirements for those that are temporarily working from home because of Covid-19. This is largely a state by state issue, so read carefully to see if you or your employees are affected. Read on… Article Via: faegredrinker.com Nationwide stay-at-home orders issued in […]
HR News, Payroll, payroll law, taxes
IRS: Three tax credits are available to many businesses hit by COVID-19
Hey Compliance Warriors! The Internal Revenue Service today reminds employers affected by COVID-19 about three important new credits available to them. Read on…
Employment Law Blogs, HR News, payroll law
IRS Says Expenses Paid with Forgiven PPP Loans are Not Tax Deductible
Hey Compliance Warriors! The Internal Revenue Service on April 30 issued guidance that states that employers who received loans through the Paycheck Protection Program (PPP) will not be eligible for tax deductions on expenses if payment of those expenses funded by the loan results in the loan being forgiven. Read on…
Hey Compliance Warriors! Here’s a great article about how we can accommodate employees during the COVID crisis, and also what we don’t have to accommodate as well. We want to be reasonable and make sure we’re following the legal guidelines given to us, though, as we’ll see in this article. Read on… Article Via: […]
Employment Law Blogs, HR News, payroll law
Common errors to avoid when filing for advance payment of employer credits
Hey Compliance Warriors! Employers who are filing Form 7200, Advance Payment of Employer Credits Due to COVID-19 should read the instructions carefully and take their time when completing this form to avoid mistakes. Using a reputable tax preparer – including certified public accountants, enrolled agents or other knowledgeable tax professionals – can also help avoid errors. Mistakes can […]
Employment Law Blogs, HR News, payroll law
Covid-Caused Furloughs, Layoffs, Pay Reductions. What Should Employers Do?
Hey Compliance Warriors! The debate on what to do with our employees has been going on for quite a while now, and it can be a difficult decision to make. To that end, this article makes some very helpful points that employers need to consider when thinking about laying people off, etc. Read on… Article […]
Employment Law Blogs, HR News, Human Resources, Payroll, payroll law, taxes
Employers Are Overlooking The CARES Act Employee Retention Credit
Hey Compliance Warriors! A benefit to the CARES act has been overlooked by employers quite a bit. The ability to receive a tax credit for retaining your current employees. What goes into receiving this credit and how beneficial is it really? Read on… Article Via: velaw.com “Employers faced with difficult decisions about whether to lay […]
Hey Compliance Warriors! In the current work world, employers are faced with a strange new challenge. Because of working from home – AKA remote working – there is a chance that the rates at which an employee should be taxed would change. Read on… Article Via: saltsavvy.com Many employees are now telecommuting due to the […]
Hey Compliance Warriors! New York has been hit hard by the Coronavirus pandemic, but they’re still trying to keep doing everything they can to stay safe and soldier on. Some additional guidance was given for NY employers on the issue of paid sick leave to help out in this difficult time. Read on… Article Via: […]
Hey Compliance Warriors! I know we’re all huge fans of the IRS and the flaming hoops they have us jump through each year to file our taxes. With tax season upon us, here’s a reminder article that may help out. Read on… Article Via: kilpatricktownsend.com “The Internal Revenue Service (IRS)’s Office of Chief Counsel recently […]