Employers Can Grant Paid Leave for COVID-19

This article was published by the IRS. Under the Families First Coronavirus Response Act, employers can grant paid leave for an employee to take care of their health needs related to COVID -19 or to care for their family members. This relief helps ensure employees are not forced to choose between being paid or staying home [...]

Employee Retention Credit Available for Businesses Affected by COVID-19

This article was published by the IRS. The employee retention credit is designed to encourage businesses to keep employees on their payroll. The amount of the credit is 50% of qualified wages paid up to an annual limit of $10,000, which equals a maximum credit amount of $5,000 for each employee for the year. Who is [...]

Town of Plymouth’s “COVID-19 Daily Update” – June 29, 2020

In this week’s Monday episode (June 22, 2020) of the Town of Plymouth’s “COVID-19 Daily Update,” Heather reported that the IRS approved some relief last week. If you were 70 1/2 in 2019 and were required to take distributions from a retirement plan like a 401(k) or IRA, the question has been what would happen if [...]

Be Aware of the Three New Credits Available to Many Businesses Hit by COVID-19

This article was published by the IRS. Employers affected by COVID-19 can take advantage of three important new credits available to them. Employee Retention Credit: The employee retention credit is designed to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible [...]

Town of Plymouth’s “COVID-19 Daily Update” – June 22, 2020

In this week’s Monday episode (June 22, 2020) of the Town of Plymouth’s “COVID-19 Daily Update,” Heather reported that there was a lot of movement in various initiatives over the past week. The SBA finally updated their website to include the new PPP loan forgiveness application, as well as the EZ version of the application. The [...]