Tag Archives: Payroll

#COVID-19 PPP Loan Forgiveness and Furloughed Employees Part 3 of 3

You want them back but you really shouldn’t call or text. Give the furloughed employee a written Offer of Recall that documents: Return to work date. Terms of employment – Position, Supervisor, Responsibilities/Job description, Salary/hourly rate, Hours, and whether Exempt/Non-exempt … Continue reading

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#COVID-19 Employer Payroll Tax Deferral UPDTD Part 2 of 3.

“Section 2302 of the CARES Act provides that the payment and deposit of the employer’s share of the social security portion of FICA tax and the employer’s share of the social security portion of RRTA tax for deposits that are … Continue reading

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#COVID-19 Employee Retention Tax Credit (ERTC) Part 1 of 3.

The ERTC is encouragement, for employers to keep paying employees, in the form of a refundable credit equal to 50% of up to $10,000 of qualified wages for a maximum $5,000 credit – per employee. The credit is taken against … Continue reading

Posted in Business, Business Taxes, Covid-19, General Interest, IRS, Payroll, Taxes | Tagged , , , , , , , | Leave a comment