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Embrace the Digital Postcard for Virtual Open Enrollment 2020

Flimp Communications

The disruption caused by the pandemic brought an end to in-person enrollment meetings and benefits-onboarding presentations for HR and benefits providers. Workforces are virtual and dispersed and access to centralized benefits information is more critical than ever.

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Leap year! How to handle 27 biweekly payrolls in 2020

Business Management Daily

1 payday back into 2020, you’d still have 27 biweekly pay periods, this time in 2021. Although most companies choose this option, it may be a costly decision, since employees will receive an extra paycheck, along with extra taxes withheld and extra benefits provided. 1, 2021, is a holiday. Who’s impacted.

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Congress temporarily changes limit for dependent care

Benefit Resource Inc.

It’s also worth noting that the maximum pre-tax contribution is the respective amount ($10,500 or $5,250) minus any rollover dollars. Parents can submit claims for eligible expenses incurred in 2020 and 2021 related to care for children under age 14. Are you due for non-discrimination testing?

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The Families First Coronavirus Response Act (FFCRA): What you need to know

Insperity

. – which was passed by Congress and signed by the President on March 18, 2020 – went into effect on April 1, 2020, and sunsets on December 31, 2020. Employer tax credits. Covered employers qualify for dollar-for-dollar reimbursement through tax credits for all qualifying wages paid under the FFCRA. How the Dept.

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Year-In-Review: ERIC Defeats Redundant New Jersey Emergency Paid Sick Leave Proposal

ERIC

Importantly, New Jersey workers already have access to substantial state-mandated earned sick leave benefits provided by employers, which were further expanded in 2020 to allow employees to use their leave explicitly for COVID-19 circumstances.

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More troubles for PPP loans and the employee retention credit

Business Management Daily

The employee retention credit offers you a 50% credit on your share of Social Security taxes, up to $5,000 per employee, if you continue to pay and provide health benefits to employees. Either the IRS will update its FAQ or new legislation will conform to the tax writers’ intent. Employee retention credit.

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COVID could impact your ACA Applicable Large Employer status for 2021

Business Management Daily

In that case, if just one full-time employee buys insurance on the exchange and qualifies for a premium tax credit, you will be liable for a free-rider penalty. If it does not, and an employee receives a premium tax credit on the exchange, there’s a different penalty.