If you’re like most employers, your head is swimming with all of the information that’s been coming out of Washington D.C. these past few weeks. Thankfully, on April 6th, Treasury and the U.S. Small Business Administration (SBA) released FAQs on PPP (the $349 billion small business relief program that is a key part of the […]
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The recently enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act provides a refundable payroll tax credit for 50% of wages paid by eligible employers to certain employees during the COVID-19 pandemic. The employee retention credit is available to employers, including nonprofit organizations, with operations that have been fully or partially suspended as a result […]
Read the full articleThe IRS has issued a warning to taxpayers about calls and email phishing attempts dealing with COVID-19 or the Coronavirus. Main concerns center around identity theft and tax-related fraud. Taxpayers should watch for emails, text messages, websites and social media attempts that request money or any personal information. According to IRS Commissioner Chuck Rettig, “The […]
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On March 27, President Trump signed into law another coronavirus (COVID-19) law, which provides extensive relief for businesses and employers. Here are some of the tax-related provisions in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Employee retention credit The new law provides a refundable payroll tax credit for 50% of wages paid […]
Read the full articleOhio Tax Commissioner Jeff McClain confirmed that Ohio will follow the lead of the federal government. Ohio is extending the deadline to file and pay state income tax to July 15th, which is an extension of three months from the original deadline of April 15th. As with the IRS extension, Ohio will waive penalty on […]
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