The IRS has issued guidance on how to implement President Trump's payroll tax deferral Memorandum, but the guidance leaves employers with many unanswered questions.
President Trump has issued an executive order for a payroll tax holiday to provide financial relief to employees affected by the COVID-19 crisis. However, many payroll experts are advising employers not to take action until further information is available.
President Donald Trump signed the Paycheck Protection Program Flexibility Act of 2020, which modifies provisions related to the forgiveness of loans to small employers under the PPP.
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) aims to help employers keep workers on their payrolls, through tax credits and other measures, during the ongoing COVID-19 crisis.
The IRS and DOL announced that small and midsize employers will be able to begin claiming two new refundable payroll tax credits designed to immediately and fully reimburse the cost of providing COVID-19-related leave to their employees.
Millions of US workers will be entitled to paid leave for the first time under a coronavirus emergency relief law signed last night by President Trump.
Amidst the growing global coronavirus pandemic, the House of Representatives has passed a sweeping bill that aims to strengthen the safety net for workers.
The IRS released the completely redesigned calendar year 2020 federal Form W-4, which reflects changes required under the 2017 federal tax reform law.
The IRS has published a draft of the 2020 Form W-4, Employee's Withholding Allowance Certificate, which incorporates changes made by the 2017 Tax Cuts and Jobs Act.
Congress has introduced legislation to increase the ability of employers to provide student loan repayment benefits to their employees.
News: HR guidance on compliance with payroll taxes, including income taxes, Social Security and Medicare (FICA) taxes, and unemployment, disability and workers' compensation insurance taxes.
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© 2021 LexisNexis Risk Solutions Group.