Important Notice – E-Filing Mandate for Payroll Reports
The Internal Revenue Service finalized regulations on February 23, 2023, significantly expanding mandatory electronic filing of tax and information returns that require almost all returns filed on or after January 1, 2024, to be submitted to the IRS electronically instead of on paper, emphasizing the importance of E-Filing. Under the new rules, filers of 10 […]
Latest Developments on PPP Loan Forgiveness
Many businesses are just starting the process of submitting applications for the Paycheck Protection Program (PPP) loan forgiveness. Meanwhile, the Small Business Administration (SBA), in consultation with the Treasury Department, is continuing to release additional guidance on the PPP loan forgiveness process. This new guidance may change the process for some and certainly impacts 2020 […]
What You Need to Know About the Payroll Tax Holiday
In August, Donald Trump signed an executive order allowing for a temporary payroll tax deferral. Ultimately, it allows for employees who earn less than $104,000 per year to defer their payroll taxes until April of next year.
Payroll Reporting in 2020
Our businesses have all experienced some form of change during this extraordinary year of 2020 to date. There have been several COVID-19 related relief options for employers to take advantage of in order to help to minimize the negative economic effects of this pandemic in the way it effects their business and their employees. Many […]