PPP Loans/Tax Holiday Updates
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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…
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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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New W-4 Employer Requirements
AccuPay has written 2 previous PayDay educational emails about the brand new and totally different W-4 form which is effective January of 2020. As you read this final PayDay on…
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SUTA Rate Notices For 2020
The Indiana Department of Workforce Development recently mailed out 2020 “Merit Rate Notices” to all applicable Indiana employers. You and AccuPay need to take the following action steps in response to…
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Quarterbacking Your 401K Plan
401K plans are complex and require that all the various service providers to the plan be “on the same page”. These “qualified” plans, along with 403b and 457 government plans,…
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