There’s a “new normal” for business as the pandemic continues. But even that too can change at a moment’s notice. Every day, American businesses are wrestling with payroll compliance issues following changes to federal tax law and preparing for what…
On September 1, 2020, a presidential executive order went into effect allowing employers the option to defer their employee’s Social Security tax through the end of the year, December 31. This means the 6.2 percent tax that employees normally pay…
Like many Wisconsin-based organizations, the COVID-19 pandemic and subsequent office shutdowns forced SecureFutures, a Milwaukee-based non-profit and IPS client, to quickly adapt to a new reality. “Our employees are all working remotely now,” says Brenda Campbell, SecureFutures President and CEO….
IPS Payroll Specialist Ashlie Bruce spent a few minutes with us to talk about the many changes on the job since the pandemic and what has remarkably remained the same. Let’s go back to earlier this year when COVID-19 began…
IPS reminds all employers that we can help them follow the proper procedures when paying their employees for COVID-19 related sick leave. According to the Families First Coronavirus Response Act (FFCRA) Employers qualify for dollar-for-dollar reimbursement on all qualifying wages…
The Employee Retention (Tax) Credit was created to support businesses who forego layoffs and maintain their employees on payroll. According to the U.S. Treasury Department and the Internal Revenue Service (IRS), the refundable tax credit is 50% of up to…
Of the $484 billion in the latest stimulus package approved by Congress and signed into law by President Trump, some $310 billion will fund the second round of the Paycheck Protection Program (PPP). According to the U.S. Treasury PPP Fact…
The Coronavirus, Aid, Relief and Economic Security Act (CARES Act) allows employers to defer the deposit and payment of the employer’s share of Social Security taxes and self-employed individuals to defer payment of certain self-employment taxes. What deposits and payments…
The chaos and confusion surrounding the first weeks of the COVID-19 pandemic provided fertile ground for cybercriminals to launch their scheme of deception. Employees working away from the office during the “Safer-at-Home” orders shifted their home networks to include professional…
The Families First Coronavirus Response Act (FFCRA or Act) requires certain employers to provide employees with paid sick leave or expanded family and medical leave for specified reasons related to COVID-19. The Department of Labor’s (Department) Wage and Hour Division…
