Massachusetts TIR 20-5 offers key tax guidance on employees who are working from home during the COVID-19 emergency. Any nonresidents who usually work in Massachusetts but are teleworking from a different location are still subject to Massachusetts income taxes. Employers must also continue to make contributions to the state’s paid family and medical leave program [...]
Exempt employee missed work: Is he now eligible for OT? Q. This year, we hired an exempt employee and offered him a salary of $36,000. However, he took a week off from work without pay, which will lower his annual salary to below the new threshold required for exemption by the Department of Labor. Does [...]
The Department of Labor (DOL) has created a new online tool to help your workers see if they’re eligible for leave under the Families First Coronavirus Response Act (FFCRA). Employer-specific features are coming soon, according to the DOL. For more info: dol.gov/agencies/whd/ffcra/benefits-eligibility-webtool
ZoomX Inc., a delivery service contractor in Katy TX, failed to provide paid sick leave to an employee whose healthcare provider advised the employee to self-quarantine for two weeks due to the coronavirus. For this violation of the Emergency Paid Sick Leave Act provision of the Families First Coronavirus Response Act, ZoomX was penalized $1700 [...]
Employers who furloughed workers during the coronavirus pandemic may be close to rehiring them as many businesses start opening again. Are you aware of the guidelines you must follow during the rehiring process? Test yourself by answering True or False to the following: If a furlough lasts six months or more, employers are required to [...]
Watch the webinar that Leslie Costigan hosted on May 13 about what you need to know to get your PPP loan forgiven. Read our newsletter on PPP loans (sent 5/11/2020).
We have published several newsletters in the past few weeks to update our clients on how Covid-19 affects your payroll, changes to operations at PayPlus, and resources for small businesses. We will continue to update you as new guidelines are introduced. Here are links to the newsletters: Everything you wanted to know about PPP loan [...]
IRS W-4 procedures: New hire withholding in 2020 vs. 2019 Handling forms with missing info & more The wait is over: The IRS has released the final version of the New Form W-4 – and it’s also cleared up some confusion about tricky situations that may arise with the form. In a recent IRS Payroll [...]
IRS announces late filing penalties for tax returns You already know the importance of filing key tax returns on time with the IRS. But, there’s another factor to keep in mind: Late filing penalties can get costly. In Revenue Procedure 2019-44, the IRS lists the new timely filing penalties for returns such as Forms W-2, [...]
Legal, banking holidays for 2020: Start marking your calendars: You’ll need to know when legal and banking holidays happen, just in case they impact pay cycles or tax deadlines. Also keep in mind: 2020 is a leap year, which means there will an extra day in February that could add an additional payday to your [...]
