PPP and ERC Updates and Planning
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PPP loans and Employee Retention Credits have both had numerous changes since they were originally enacted into law by the CARES Act on March 27, 2020. The purpose of this…
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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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HOW TO READ YOUR 2020 W-2
Years ago, W-2 forms were fairly straight-forward, reporting wages paid to your employees along with tax withholdings. The days of simple W-2’s are long gone! Wages reported in boxes 1, 3…
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PPP/Tax Credits – Practical Advice for You
We recently wrote a PayDay with our first observations on the new pandemic stimulus law. We suggest that you read our previous PayDay for some basic information about PPP loans,…
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More PPP Cash – Less Tax
The COVID relief stimulus bill, titled “Consolidated Appropriations Act 2021 (hereafter CAA), was signed into law the evening of Sunday, December 27, 2020. The CAA contains several provisions which will…
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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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Unemployment – Taxes, Fraud and Merit Rates
The purpose of this PayDay is to alert our clients and readers to various developments, letters and procedures which are “new in 2020” pertaining to employers subject to the Indiana…
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1099-NEC Form for Contractors/Freelancers
The Internal Revenue Service developed a brand new, 2020, Form 1099-NEC, which is to be used to report payments for services of $600 or more during 2020 to independent contractors…
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Preparing for a Smooth Year-End
While most of us can’t wait to say goodbye to 2020, there is still work to do to ensure a smooth year-end. Putting in a little time before your final…
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Personal Use of Company Car
AccuPay has assisted our clients for many years with calculating and reporting “personal use of a company vehicle” taxable compensation to employees. We believe that employers should calculate and report…
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