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How Changes to the Employee Retention Credit Help Businesses
The most recent stimulus package (Consolidated Appropriations Act of 2021) signed into law on December 27, 2020, provides more relief to employers than ever before. As part of the bill, changes to the Employee Retention Credit (ERC) have greatly expanded its value and...
Here is the Update to the Employee Payroll Tax Deferral
Last August, the U.S. Department of Treasury was ordered to defer collecting certain payroll taxes from wages earned between Sept. 1 and Dec. 31, 2020. The Internal Revenue Service (IRS) issued Notice 2020-65 to provide employee payroll tax deferral guidance for...
What are the 2021 Retirement Plan Limits?
The Internal Revenue Service (IRS) has released their 2021 retirement plan limits via Notice 2020-79, containing cost-of-living adjustments for 2021 that affect amounts employees can contribute to 401(k) plans and IRAs, most of which remain unchanged. Key limits that...
