S-CORP’S DON’T BLOW THIS!
Special rules must be followed so that 2% or more “S” corporation shareholder-employees can deduct health insurance premiums covering the shareholder, his/her spouse and dependents. IRS Notice 2008-1 permits tax…
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Heads Up – Deferred FICA Tax Due Soon
Section 2302 of the March 2020 CARES Act provided many stimulus opportunities to employers, one of which was the option for all employers to defer/postpone the payment of the employer…
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IRS Refunds for New Employers 2020/2021
A little known component of the Employee Retention Tax credit provisions, as modified by the American Rescue Plan Act, is that “recovery startup businesses” qualify for employee tax credits during…
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Review Your 2021 Tax Targets
Now is an excellent time for both employees and employers to make sure they will reach their payroll, tax and financial objectives for calendar year 2021. The following items should…
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ERC Tax Credit Money – Take this Quick Quiz!
We have talked to many employers who are not aware that they qualify for the employee retention tax credit (ERC). The original CARES Act legislation provided that an employer could…
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Tax Credits – Vaccine, Tests and COVID PTO
The American Rescue Plan Act (ARPA), signed by President Biden on March 11, 2021, extended the previous FFCRA tax credits for COVID sick/leave paid time off, and also added some…
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ERC Tax Credits – Big Deal for Employers
Every employer, both for profit and non-profit, should determine if they are eligible for “employee retention tax credits” (ERC). AccuPay has been working with employers and their CPA/consulting firms to…
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The 2021 W-4 – What you Need to Know
As you may recall, the IRS released a brand new form W-4 in 2020. The 2020 update was a complete overhaul to the form that most of us had been…
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PPP Loans/Tax Holiday Updates
We have written many previous PayDay newsletters about PPP loans and the “payroll tax holiday,” all of which can be found at our website blog. Since a few weeks have…
Read More Payroll Tax Holiday – Update
Treasury released “guidance” Friday night to clarify President Trump’s August 8th executive order pertaining to the “deferral of employees FICA tax withholding” during the pay period September 1-December 31, 2020.…
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