Resources

Understanding the CARES Act: Employee Retention Credit

Provided by Ahola Payroll & HR Solutions

The IRS released a set of frequently asked questions regarding the Employee Retention Credit available as part of the newly released CARES Act.

We’ve referenced many of the FAQ’s below, but you can access the full list here.

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), enacted on March 27, 2020, is designed to encourage Eligible Employers to keep employees on their payroll, despite experiencing economic hardship related to COVID-19, with an employee retention tax credit (Employee Retention Credit).

COVID-19 and Government Spend

During times of crisis, now more than ever, the government needs capable companies to help with the increased demand for critical products and services. Selling to the government can help small and large businesses alike by providing them with a steady revenue stream. The government has proven to be a reliable customer, and as of March 31, 2020, the government has already spent $624 million on COVID-19 response. So, what is the government buying during the COVID-19 crisis and how can you help?

U.S. Department of Labor Announces New Paid Sick Leave and Expanded Family and Medical Leave Regulations

Yesterday, the Wage and Hour Division of the U.S. Department of Labor (DOL) issued a temporary rule regarding the Emergency Paid Sick Leave Act (EPSLA) and the Emergency Family Medical Leave Expansion Act (EFMLEA) of the Families First Coronavirus Response Act (FFCRA). The regulations created under the rule reaffirm prior DOL guidance and provide clarity regarding a number of outstanding questions. The full 124-page text of the regulations can be found here (set to be officially published on April 6, 2020). Pertinent information contained in the regulations is outlined below.

RSS
12345678910Last