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

Insperity

The FFCRA: Provides federally mandated emergency paid sick leave Expands the federal Family and Medical Leave Act (FMLA) and provides emergency provisions for coverage and eligibility Expands unemployment insurance benefits Provides employer tax credits to qualifying employers for certain costs related to the implementation of this law.

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IRS releases draft coronavirus payroll tax credit forms

Business Management Daily

Quick as jackrabbit, the IRS has released a new draft form and draft instructions for employers that elect to take any of the payroll tax credits contained in the Families First Coronavirus Response Act and the Coronavirus Aid, Relief, and Economic Security Act. It’s meant to implement the CARES Act’s advanceable payroll credit.

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Helping Employees During Coronavirus/COVID-19 Pandemic

Best Money Moves

The Families First Coronavirus Response Act (FFCRA) mandates certain employers provide up to two weeks of paid sick leave related to COVID-19. Unemployment Resources. Some employers, especially small businesses, will have to layoff and furlough employees during the Coronavirus/COVID-19 outbreak.

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Your COVID-19 payroll questions, our answers

Business Management Daily

However, it’s also apparent that lots of the day-to-day questions Payroll pros have are going unanswered. The first rule of payroll administration—cash is always taxable—is beatable by having employees substantiate their costs by turning in receipts. EFMLA for employees on emergency paid FMLA leave. And they are helpful.

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Your 2021 payroll questions answered.

Business Management Daily

Regardless, you can’t put payroll on hold simply because things are confusing. COBRA tax credits. Our COBRA carrier has provided us with a report detailing the company’s eligibility for the COBRA tax credit for the second quarter. Remote work and payroll software. The FFCRA and accrued sick leave.

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New CDC guidelines affect return to work plans

Business Management Daily

When Congress passed the Families First Coronavirus Response Act (FFCRA) it temporarily provided workers with Emergency Paid Sick Leave (EPSL). The FFCRA guarantees emergency paid sick leave (EPSL) to all a covered employer’s employees. All employers with fewer than 500 employees are covered.

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Employee retention credit comes with fewer strings

Business Management Daily

Getting a Paycheck Protection Program loan was fraught, limited to employers with fewer than 500 employees, and only covered eight weeks of payroll and expenses. Heads up: Don’t use your third-quarter 941 to claim the credit for wages paid in the second quarter. Corporate tax impacts. Maximum credit per employee: $5,000.