The Employee Retention Credit was created with the passing of the CARES Act. This refundable credit is for operations that have been fully or partially interrupted due to governmental orders regarding COVID-19. Learn more about the guidance and tax implications that come with the credit.
The week of April 20, Congress passed another coronavirus aid package that included $310 billion to replenish the Paycheck Protection Program as well as $50 billion for the Economic Injury Disaster Loans (EIDL) and $10 billion for EIDL grants. See the differences in benefits of these two programs.
When passed, the Families First Coronavirus Response Act had many implications for businesses. Chris Laughton highlights how the FFCRA impacts payroll and tax credits for businesses during the COVID-19 pandemic.
Payroll laws are constantly changing. Employee pay rates, tax deposit due dates and payroll tax return deadlines only scratch the surface of the heavy burden that payroll puts on employers. Janyce Conner, Farm Credit East Payroll Specialist, discusses how we can ease the burden of these ever-changing payroll intricacies.