COVID-related leave-sharing programs remain viable
September 9, 2021 COVID-19
COVID-related leave-sharing programs remain viable

In Notice 2021-42, the IRS recently extended earlier guidance on employer leave-sharing programs that aid those most adversely affected by the COVID-19 pandemic. If your organization is currently administering such a program, or might want to consider doing so, here’s a brief review of the concept and rules. Under a leave-sharing program, employees can elect to […]

Leave tax credits are available for employees who help others get vaccinated
September 2, 2021 COVID-19
Leave tax credits are available for employees who help others get vaccinated

In News Release 2021-160, the IRS recently made an important announcement related to COVID-19 vaccinations. That is, wages paid for leave taken to accompany someone who’s getting vaccinated, or to care for someone recovering from a vaccination, may be considered: Qualified family leave wages for purposes of the qualified family leave wages tax credit, and Qualified […]

IRS additional guidance addresses COBRA assistance under ARPA
August 27, 2021 COVID-19
IRS additional guidance addresses COBRA assistance under ARPA

In Notice 2021-46, the IRS recently issued additional guidance on the COBRA premium assistance provisions of the American Rescue Plan Act (ARPA). Under the ARPA, a 100% COBRA premium subsidy and additional COBRA enrollment rights are available to certain assistance eligible individuals (AEIs) during the period beginning on April 1, 2021, and ending on September […]

Work with your payroll provider to pay deferred taxes
August 25, 2021 COVID-19
Work with your payroll provider to pay deferred taxes

Many of the relief measures passed by the federal government during the opening chapters of the COVID-19 pandemic are still relevant to employers. For example, under the CARES Act, you could defer payment of your share of Social Security taxes from March 27, 2020, through December 31, 2020. If you opted for this relief, you must pay […]

IRS issues ERC guidance as Congress mulls early termination
August 12, 2021 COVID-19
IRS issues ERC guidance as Congress mulls early termination

The IRS has published new guidance on the Employee Retention Credit (ERC). The credit was created in March 2020 to encourage employers to keep their workforces intact during the COVID-19 pandemic. Notice 2021-49 addresses various issues, particularly those related to the extension of the credit through 2021 by the American Rescue Plan Act (ARPA). The […]

SBA streamlines forgiveness for smaller PPP loans
August 6, 2021 COVID-19
SBA streamlines forgiveness for smaller PPP loans

The Small Business Administration (SBA) has released new guidance intended to expedite the forgiveness process for certain borrowers under the Paycheck Protection Program (PPP). The simplified process generally is available for loans of $150,000 or less, which the SBA reports account for 93% of outstanding PPP loans. The guidance comes at a time when many […]

PPP forgiveness and repayment: What businesses need to know now
July 23, 2021 COVID-19
PPP forgiveness and repayment: What businesses need to know now

A critical deadline is approaching for many of the businesses that have received loans under the Paycheck Protection Program (PPP), which was created in March 2020 by the CARES Act. If these borrowers don’t take action before the deadline expires, their loans will become standard loans, and the borrowers could be responsible for repaying the […]

IRS continues to address COVID-related leave
July 16, 2021 COVID-19
IRS continues to address COVID-related leave

The American Rescue Plan Act (ARPA), signed into law earlier this year, amended and extended the tax credits available to eligible employers that provide paid sick and family leave. This relief is consistent with the COVID-related leave originally provided under the Families First Coronavirus Response Act enacted in March of 2020. Just last month, the […]

EEOC addresses requiring and incentivizing COVID-19 vaccination
June 4, 2021 COVID-19
EEOC addresses requiring and incentivizing COVID-19 vaccination

Vaccines for COVID-19 have been available for months now. As of this writing, about half of adults in the United States are fully vaccinated, and many more than that have had at least one shot. Yet, in all this time, employers haven’t received much guidance from the U.S. Equal Employment Opportunity Commission (EEOC) regarding the […]

The Restaurant Revitalization Fund is now live
May 6, 2021 COVID-19
The Restaurant Revitalization Fund is now live

The COVID-19 pandemic has affected various industries in very different ways. Widespread lockdowns and discouraged movement have led to increased profitability for some manufacturers and many big-box retailers. The restaurant industry, however, has had a much harder go of it — especially smaller, privately owned businesses in economically challenged areas. In response, the Small Business Administration (SBA) […]

Employers get more relief from failure-to-deposit employment tax penalties
April 27, 2021 COVID-19
Employers get more relief from failure-to-deposit employment tax penalties

Under the Internal Revenue Code, an employer would typically be penalized for failing to deposit certain federal employment taxes by the designated deadline. Examples include deposits of withheld income taxes and FICA taxes. However, the IRS recently provided additional penalty relief for employers who have failed to timely deposit their employment taxes because those deposits […]

Some employers are incentivizing employees to get COVID-19 vaccinations
April 22, 2021 COVID-19
Some employers are incentivizing employees to get COVID-19 vaccinations

As efforts continue to get as many Americans as possible vaccinated against COVID-19, employers are contemplating their roles — with many already taking action. If your organization has yet to formally decide on how openly you wish to push employees to get inoculated, it’s not too late. You still have time to roll out a […]