IRS Updates Form 941 To Reflect COVID-19 Tax Credits

The IRS has revised Form 941, Employer’s Quarterly Federal Tax Return, to accommodate COVID-19-related employment tax credits granted under the Families First Coronavirus Response Act and the Coronavirus Aid, Relief, and Economic Security Act. If you’re...

Reporting Requirements for Health Care Providers Under CARES

The CARES Act was enacted in response to the COVID-19 pandemic. The act was specifically designed to provide funding to hospitals and health care providers that are not federal entities. Then, on July 22, 2020, the Department of Health and Human Services changed the...

IRS Guidance on Payroll Tax Deferral

Late Friday, August 28, the IRS issued much-anticipated guidance on the payroll tax deferral that was ordered by President Trump in a presidential memorandum on August 8 (Notice 2020-65). The notice allows employers to defer withholding on affected employees’...
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