Tax Credits – Vaccine, Tests and COVID PTO
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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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Payroll Tax Holiday – Our Thoughts
President Trump signed an executive order on August 8th which orders employers to stop withholding the 6.2% FICA/social security tax from employees, effective for paydays from September 1-December 31, 2020.…
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PPP Loan Forgiveness – New Forms & More Owner Costs!
The SBA/Treasury released 2 new loan forgiveness forms this week, along with instructions and a new “interim final rule.” The “upshot” of these SBA releases is that “owner-employees, self-employed individuals/independent…
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PPP Loan Forgiveness – Update!
On May 22nd, the SBA released further clarification regarding PPP loan forgiveness concepts and calculations, as a follow-up to its recently released SBA Form 3508, which is the current 11…
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SBA Emergency Loans–ABC’s
The Coronavirus Aid, Relief and Economic Security (CARES) Act was signed into law late last Friday, March 27, 2020. This legislation represents continuing efforts by the federal government to mitigate…
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Paying Employees as 1099’s–Huge Risk!
We have recently noticed that organizations, in general, are paying more and more workers “off the payroll” as “1099 employees”—-which is an oxymoron since a worker is generally either an…
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