Oregon – end of overtime exemption for agricultural workers
House Bill 4002 operates to phase out the overtime exemption over the next five years, while temporarily providing tax credits to farmers to compensate for the inevitably higher labor costs. The bill defines agricultural worker broadly, applying the term to any individual who performs services in the following areas: Farming in all its branches, including […]
Washington delays premium assessment for WA Cares Fund
Washing Governor Jay Inslee and Washington Democratic Legislative leaders issued a joint statement announcing an agreement to delay the new WA Cares payroll tax on employees. The statement described that they will conduct further work to address concerns over the new long-term care program. The WA Cares program was approved in 2019, with the intention […]
Checklist for PPP Forgiveness
If you applied for a Paycheck Protection Program loan, and intend to apply for loan forgiveness, you may find the following checklist helpful. Remember, forgiveness applications to the Small Business Administration are done through the bank that helped you with the original loan. Different banks may have somewhat different processes. Before your request forgiveness, make […]
Payroll Tax Deferral
We have received many questions over the past weeks about the Payroll Tax Deferral ordered by President Trump that went into effect September 1, 2020. The Treasury Department released limited guidance Notice 2020-65 outlining the mechanics of the Payroll Tax Deferral. To understand what is required, one must understand the general rules and what has […]
IRS Issues Official Guidance Regarding Trump’s Tax Deferral
On August 28, 2020, the IRS and U.S. Treasury released Notice 2020-65 issuing official guidance regarding President Trump’s deferral of payroll taxes. The original order, issued August 8, called for a deferral of the employee’s share of Social Security taxes for the period of September 1 through December 31, 2020, for eligible employees. The new […]
FFCRA Leave Rules in Limbo After Court Decision
Under the Families First Coronavirus Relief Act (FFCRA), certain employers are required to provide employees with paid sick time to the extent that the employees are unable to work or telework due to a need for leave based on six qualifying reasons. Congress tasked the Department of Labor (DOL) with administering FFCRA, but on August […]
Executive Action Defers Payroll Taxes
On Saturday, August 8, President Trump signed a memorandum deferring the deadline for payroll taxes that employers deduct from employee paychecks and submit to the IRS. The order defers employees’ obligation to pay a 6.2% Social Security tax per paycheck and defers these taxes from September 1 through December 31, 2020. Treasury Secretary Steven Mnuchin […]
PPP Covered Period
4 things to know You have plenty of time to request Forgiveness, but we want you to keep the following things in mind: The SBA has provided clarity on who can use the simpler 3508EZ form to request Forgiveness. Check out the criteria below. Forgiveness isn’t necessarily all or nothing. You may be eligible for […]
PPP Loan Forgiveness
Many of our clients will soon be approaching the end of the 8-week “Covered Period” of Paycheck Protection Program Loans, and are working on understanding the PPP Loan Forgiveness application. We anticipate that many of our clients will benefit from a convenient “package” of reports to help calculate loan forgiveness and provide 3rd party documentation. […]
FFCRA and CARES Acts
Here is a summary of the four provisions from the Families First Coronavirus Response Act (FFCRA) and Coronavirus Aid, Relief, and Economic Security (CARES) acts, including links to more detailed information. Please read each thoroughly, as we are including information about how we will work with you on these. FFCRA Sick and Family Medical Leave […]