What Is The Employee Retention Credit and Do I Qualify?
Posted on June 08, 2020
The Employee Retention Credit (IRS 7200 Form) is a refundable tax credit against certain employment taxes. Eligible employers can get immediate access to the credit by reducing employment tax deposits they are otherwise required to make. Also, if the employer's employment tax deposits are not sufficient to cover the credit, the employer may get an advance payment from the IRS.
Category: News and Announcements
What Is The Families First Coronavirus Response Act And Who Qualifies
Posted on June 05, 2020
The Families First Coronavirus Response Act provides that employees of covered employers are eligible for one of three different provisions.The FFCRA requires certain employers to provide employees with paid sick leave or expanded family and medical leave for specified reasons related to COVID-19
Category: News and Announcements
Revised IRS 941 Form
Posted on June 03, 2020
The IRS has now published a revised Form 941 to be used for the rest of 2020. The new form includes the changes made by the Families First Coronavirus Response Act and the Coronavirus Aid, Relief, and Economic Security Act that added various types of payroll tax relief.
Category: News and Announcements
What Is The New IRS 7200 Tax Form?
Posted on May 18, 2020
Employers may file new Form 7200, Advance Payment of Employer Credits Due to COVID-19 Coronavirus, to obtain advances of employment taxes that are refundable as a result of the new tax credits.
Category: News and Announcements
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