What's New? Over the weekend, President Trump issued an executive memorandum that will give employees the option to suspend the collection of their Social Security payroll taxes. This option will be made available to employees making less than $4,000, pre-tax, over a bi-weekly pay period. The Social Security tax deferral will go into effect on [...]
What's New? President Trump has officially signed a bill passed by the House and the Senate that loosens the requirements for PPP Loan forgiveness. This bill was passed in response to feedback that suggested more money was needed for non-payroll related costs, and that the 8 week period was too short for businesses that needed [...]
A REQUIRED FFCRA SICK AND FAMILY LEAVE FORM CAN BE FOUND HERE: Download FFCRA Sick and Family Leave Form and Guide What's New? The U.S. Department of Labor has released the required information that employees must give their employers if they are in need of taking sick or family leave as a result of COVID-19, [...]
What's New The IRS recently released a warning regarding coronavirus related scams tied to the recent loans grants, and tax incentives available through the CARES Act. The stimulus package has made trillions of dollars available to businesses and individuals, and the IRS predicts phishing email and phone calls will increase dramatically as scammers try to [...]
What's New The CARES Act was signed into law on Friday, March 27th. The bill is a stimulus package to help relieve some of the financial burden to businesses and individuals caused by the COVID-19 pandemic. It includes direct payments to workers, an expansion to unemployment, and financial assistance to employers through SBA loans, deferred [...]
What's New? The Department of Labor is requiring employers to post a notice regarding the Families First Coronavirus Response Act so that employees are aware of their rights as required by the new bill. All private sector employers with under 500 employees are required to provide their employees with this notice. Posters may be posted [...]
What's New? Employees can now have access to mobile check stubs through Payentry's updated mobile app. The update, released on January 24th, will allow employees to access personal information, pay information, and important tax forms through their mobile devices. Features include: Pay History: includes the employee’s pay history and personal earnings statements. Tax Documents: includes the employee's [...]
What Happened? Since the introduction of the Tax Cuts and Jobs Act, employees have struggled to accurately estimate the amount of federal income tax that is needed to be withheld from their paycheck. This inaccuracy has led to lower than expected tax refunds, as well us unexpected tax bills come tax season. In response, the [...]
Are Your Employees Now Eligible for Overtime? With the new overtime rule going into effect in 2020, employers are looking for ways to keep labor costs low, while remaining compliant with Department of Labor regulations. One strategy being considered is the Fluctuating Workweek method. While this method is effective in reducing labor costs associated with [...]
What Happened? On September 24th, 2019, the Department of Labor released the new overtime rule that will go into effect on January 1, 2020. Under the new rule, minimum salary requirements for White Collar Exemptions (executive, administrative, professional and highly compensated individuals) will increase from $455 per week ($23,600 annually) to $684 per week ($35,568 [...]