Payroll Deferral Tax Employer FAQ
Payroll Tax Deferral Next Steps Earlier this week we sent an update regarding the Employee Social Security Tax Deferral. You can find a link to this notice here. Below we are … Continued
Please join CTR for a free webinar where we will discuss new clarifications from the IRS regarding PPP borrowers and Employee Retention Tax Credit eligibility. Topics we will be addressing:
-Clarification on retroactive changes made to the 2020 ERC and how PPP Borrowers may claim the ERC
-Employer eligibility, what constitutes a full or partial suspension of trade or business operations and what defines a significant decline in gross receipts
We will also review the IRS clarifications on the maximum amount, qualified wages and how to substantiate the credit.
Payroll Tax Deferral Next Steps Earlier this week we sent an update regarding the Employee Social Security Tax Deferral. You can find a link to this notice here. Below we are … Continued
Late on Friday August 28, 2020 the IRS and the Department of Treasury issued long-awaited guidance on the payroll tax deferral that was issued by President Trump in a memorandum … Continued
As promised, below you will find instructions for Phase 2 of the PPP Loan Forgiveness Report. Additionally, Trump just signed into law the PPP Flexibility Act of 2020. The full … Continued
If you’re considering the Employee Retention Tax Credits under the CARES Act, we recommend reviewing the newly released FAQS from the IRS. The IRS has released 94 FAQs with calculation examples.
Under the CARES Act, Employers are provided the ability to defer the deposit and payment of the employer’s share of social security tax payments that were otherwise required to be made from March 27, 2020 through December 31, 2020.
Santa Claus was issued an IRS Letter 226J ACA Penalty Notice for failing to offer his 50+ Full Time Elves affordable health coverage in 2019 .
Earlier this week, the IRS announced it would be extending the 2019 ACA reporting deadline. Originally due January 31, 2020, ACA reporting forms will now be due to employees and other covered individuals on March 2, 2020.
Whether you’ve gone through ACA reporting before or completing it for the first time, it’s a good idea to familiarize yourself with everything you need to accomplish and by when.