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COVID Relief Bill: Tax Credits for Paid Leave Extended to March 31
*** Things are changing day to day. Please check back for updates. A new $900 billion coronavirus relief bill has become law and answers the question of whether federal Emergency Paid Sick Leave (EPSL) and Emergency Family and Medical Leave (EFMLA)...
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CDC Reduces Quarantine for Travel
On December 2, 2020, the CDC announced new guidelines for domestic travel and revised its quarantine recommendations. Below outlines the reduced quarantine options: Under the new guidelines: ∙ If an individual has been exposed to the virus and...
Don’t panic. There is still time. Just be on the watch for important messages from your bank.
The PPP Loan forgiveness application forms (3508, 2508EZ, and 3508S) show an expiration date on the upper right corner. That is purely for SBA internal compliance with the Paper Reduction Act and reflects only a temporary expiration date. The date will be...
New Deadline & Final Year of Good Faith Relief for 2020 ACA Reporting
The IRS recently addressed 2020 Form 1094 and 1095 reporting requirements, which apply to self-insured employers and applicable large employers (ALEs) in IRS Notice 2020-76, and include the following important developments: The furnishing deadline for 2020 Forms...
IRS Releases Draft 2020 Instructions for Forms 1094-B and 1095-B
The IRS recently published the draft instructions for the 2020 Forms 1094-B and 1095-B. As a reminder, small employers with self-insured health coverage are responsible for completing this reporting by the following deadlines: Furnishing deadline for 2020 Forms 1095-B...
IRS Releases Draft 2020 Instructions for Forms 1094-C and 1095-C
The IRS recently published the draft instructions for the 2020 Forms 1094-C and 1095-C. As a reminder, applicable large employers (ALEs) are responsible for completing this reporting by the following deadlines: Furnishing deadline for 2020 Forms 1095-C is March 2,...
ACA State Individual Mandates
What a year 2020 has been and continues to be. Is anyone else ready to ring in 2021 just to say goodbye to the mess that 2020 has been? With that said, there are still some things in 2020 that can’t be washed away with the passing into a new year. ...
The IRS is open for business again.
The IRS is open for business again. Employer Shared Responsibility Payments are now being assessed again on 2017’ tax year. Don’t forget to offer to 95% of those eligible and make it affordable or face these letters. And if you do all these things, remember to report...
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