American Rescue Plan Act- Payroll Provisions and New Legislation

President Biden signed the American Rescue Plan Act which has a number of favorable updates to the existing payroll credits as well as new legislation. Below are the items which will likely impact you as the employer: Extends the Family First Coronavirus Response Act (FFCRA) paid sick time and paid family leave credits from March …

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UPDATE CAA – Presidential Memoranda Deferral of Employee Social Security Taxes

Update on Social Security withholdings deferral On December 27, 2020, the Consolidated Appropriations Act, 2021 (CAA, 2021) was signed into law. The CAA extends provisions relating to the Presidential Memoranda to Defer Employee Social Security Taxes.  Additional details are provided below in our previous e-mail sent August 31, 2020. the date employers will be required …

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CAA Payroll Provisions: Employee Retention Credit Expansion and Extension

Employee Retention Credit update On December 27, 2020, the Consolidated Appropriations Act, 2021 (CAA, 2021) was signed into law. The CAA includes the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (TCDTR), which extends and expands upon the Employee Retention Credit (ERC) provided by the CARES Act. Background. Under the CARES Act, the ERC provides a …

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CCA – COVID 19 – Families First Coronavirus Response Act (FFCRA)

Changes to Paid Sick Leave and Family Leave Credits On December 27, 2020, the Consolidated Appropriations Act, 2021 (CAA, 2021) was signed into law. The CAA includes the Additional Coronavirus Response and Relief (ACRR), which contains provisions that extend the refundable tax credits associated with mandatory paid sick and family leave under the FFCRA. Background. Effective …

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PPP 2nd Draw

Dear Client: At the end of 2020, Congress passed, and President Trump signed, a new law that provides for additional relief related to the coronavirus (COVID-19) pandemic. This law, the Consolidated Appropriations Act, 2021 (CAA, 2021), includes a second draw of Paycheck Protection Program (PPP) loans (PPP Second Draw Loans). It also allows businesses to …

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