Overshadowed by the PPP loan program, the lesser-known and used Employee Retention Tax Credit was offered through the CARES act in 2020. Learn here what has changed earlier in 2020 and about your eligibility.
Over the next couple weeks, we will expand on this information and how it affects your workforce, business, taxes, and payroll. Fluid updates will be provided as they change here. The Independent Payroll Providers Association (IPPA) distributed the following information to help summarize and bring clarity to the newly passed Act.
Payroll is the sort of thing we simply assume companies are getting right, unless a specific problem comes to light. The reality though is that a lot of businesses (and particularly smaller ones) often struggle with efficient and accurate payroll management.
This letter is designed to inform our clients and contacts of the Payroll Tax Deferral program that became available on September 1, 2020. Employers can choose to opt-in and are encouraged to speak to their employees regarding participation.