Last month, the Internal Revenue Service (IRS) issued a new notice containing guidance for employers who wish to claim the Employee Retention Credit (ERC) in the first two quarters of 2021. Employers can access the credit before filing their employment tax returns by simply reducing employment tax deposits. DM Payroll Solutions highlights the top five changes to […]
The Internal Revenue Service (IRS) created a new fact sheet offering guidance for small to mid-size employers wishing to leverage the refundable tax credits under the American Rescue Plan Act (ARPA). The new guidance states the tax credits will reimburse employers for the cost of offering paid emergency sick and expanded family and medical leave […]
Recently, the U.S. Department of Labor (DOL) issued EBSA Disaster Relief Notice 2021-01, a communication especially of interest to employers. The notice clarifies the duration of COVID-19-related deadline extensions applying to healthcare benefit plans. Continuing Extensions The DOL and the Internal Revenue Service (IRS) issued guidance last year stating that the COVID-19 outbreak period – […]
Nearly a year after the Coronavirus Aid, Relief, and Economic Security (CARES) Act was enacted and just days before the second extension of pandemic unemployment relief was set to expire on Mar. 14, 2021, President Biden signed the American Rescue Plan Act of 2021 into law on Mar. 11, 2021. With a price tag of […]
After President Biden’s recent memorandum requesting a pause to allow for the review of new and pending rules, the U.S. Department of Labor (DOL) announced there will be delays to the tip credit and worker classification final rules under the Fair Labor Standards Act (FLSA). Keep reading to learn more about the repercussions the final […]
The Equal Employment Opportunity Commission (EEOC) has indicated it will start the collection of both 2019 and 2020 Employer Information Report (EEO-1) Component 1 data beginning this coming April. Last year’s 2019 data collection was delayed due to the COVID-19 pandemic, so employers must double up on their data collection this year for both 2019 […]
The Department of Homeland Security (DHS) recently announced another extension of the temporary requirements allowing for the flexibility of Form I-9’s physical presence requirements through the U.S. Immigration and Customs Enforcement (ICE). DM Payroll Solutions explores the additional extension and what employers should know about Form I-9 reporting in the near future. More on the […]
The Internal Revenue Service (IRS) has recently released the 2021 Form W-4 (Employee’s Withholding Certificate). While the new form is quite similar to its 2020 counterpart, there are a few small updates all employers should be aware of. DM Payroll Solutions breaks down the 2021 Form W-4 changes to ensure you have all the answers […]
The U.S. Department of Labor (DOL)’s Wage and Hour Division (WHD) has issued new guidance to shed light on the relief offered by the Families First Coronavirus Response Act (FFCRA) for both workers and employers. The FFCRA was put in motion to help the U.S. navigate the workplace effects of COVID-19 by providing tax credits […]
The Internal Revenue Service (IRS) recently issued new standard mileage rates for 2021. The rates apply to businesses whose employees operate an automobile for business, charitable, medical or moving purposes. DM Payroll Solutions breaks down the new mileage rates so you and your employees can plan appropriately for the coming year. Beginning Jan. 1, 2021, […]
