News & Analysis as of

Tax Relief Payroll Taxes Wage and Hour

Womble Bond Dickinson

Unlocking Savings: New Tax Breaks for Overtime and Tips - What Employers Need to Know

Womble Bond Dickinson on

In a sweeping move set to reshape employee paychecks, the newly enacted One Big Beautiful Bill Act (OBBBA) introduces two significant federal tax deductions for hourly workers: one for overtime pay and another for tip income....more

Foster Garvey PC

Potential Payroll Tax Deferral Is Available – Employers Must Understand the Program and Use Extreme Caution Before Blindly Jumping...

Foster Garvey PC on

On August 8, 2020, President Trump issued an executive order, directing the U.S. Treasury to grant employers the ability to defer the withholding, deposit and payment of certain payroll taxes as further COVID-19 tax relief....more

Bowditch & Dewey

IRS issues guidance on Social Security tax deferral

Bowditch & Dewey on

On August 28, the IRS issued Notice 2020-65 to provide guidance on the President’s decision to allow deferral of the employee portion of Social Security taxes owing for the rest of 2020 for employees earning up to $104,000...more

Troutman Pepper Locke

How to Free Up Access to Employer Assets and/or Ease Employee Access to Vested Benefits During COVID-19

Troutman Pepper Locke on

Who Needs to Know - Employers and Employees Impacted by COVID-19. Why It Matters - Employers and employees alike continue to feel the impact of the COVID-19 pandemic. Despite a variety of tax incentives, employers may...more

Troutman Pepper Locke

PROVIDING COVID-19 FINANCIAL RELIEF: How to Free Up Access to Employer Assets and/or Ease Employee Access to Vested Benefits

Troutman Pepper Locke on

Q. Are there any COVID-related tax incentives that could benefit employers and employees?...more

Jackson Walker

Payroll Tax Relief and Latest Developments in Retirement Plans and Benefits

Jackson Walker on

Payroll Tax Relief Under CARES Act, FFCRA, and Executive Order - While the Coronavirus Aid, Relief, and Economic Security (CARES) Act permitted employers to defer depositing the portion of the FICA taxes the employer pays...more

Brownstein Hyatt Farber Schreck

Opportunities for Small Business in the CARES Act of 2020

The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides assistance to small businesses impacted by COVID-19. Congress did not, however, provide a one-size-fits-all solution. Instead, small businesses must...more

Burr & Forman

Key Tax Provisions of the CARES Act

Burr & Forman on

The COVID-19 or Coronavirus has disrupted demand in many industries and is wreaking havoc on budgets and cash flow projections. On March 27, 2020 the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act or Act),...more

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