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IRS Expands CARES Act Tax Breaks On Retirement Plan Distributions, Loans

The IRS expanded the number of taxpayers who qualify to tap into their retirement plans using the generous provisions of the CARES Act. The IRS also answered questions about details of distributions and loans under the CARES Act that have been asked by employers, employees,...

30 June, 2020

What PPP Loan Borrowers Should Consider When Choosing Between The 8 Or 24 Week Forgiveness Period

PPP borrowers and their advisors are scrambling to determine how to manage their businesses and expenses to best facilitate loan forgiveness to benefit their businesses and employees. These two objectives are sometimes at odds, and the new 24-week testing period election, which most borrowers can...

26 June, 2020

Supreme Court Rules in Favor of LGBTQ Employment Protections

The Supreme Court of the United States has ruled that employers may not discriminate based on sexual orientation or gender identity in employment. This decision affects all employers with 15 or more employees. The decision was a response to three separate cases, all of which were...

24 June, 2020

Updated Guide to PPP Loan Forgiveness

The U.S. Chamber has updated the Guide to PPP Loan Forgiveness. This guide reflects recent substantive changes made by Congress and the administration to the PPP program to provide borrowers with more flexibility. These changes include: Extending the time to spend PPP funds from 8...

23 June, 2020

Texas to Reinstate Work-Search Requirement for Unemployment Benefits

As COVID-19 continues spreading, the Texas Workforce Commission says out-of-work Texans will have to prove they are searching for work to receive unemployment benefits beginning July 6. Texans receiving unemployment benefits will once again have to prove they have searched for jobs or tried to reopen...

22 June, 2020

From the HR Support Center: Can we deny an employee’s use of accrued vacation time?

Yes, the decision to approve or deny the use of accrued vacation time is up to you, assuming you do so in a consistent and non-discriminatory manner. It would be acceptable, for example, to deny a vacation request because approving it would leave you without...

19 June, 2020

How Do I Choose Employee Timekeeping Tools For My Business?

How do you choose timekeeping tools for your business? If you aren’t in the HR software world, it’s hard. The good news is that Payroll Partners has the most advanced tools for organizations like yours. Let’s review the employee timekeeping needs of specific industries. Manufacturing Time theft and...

18 June, 2020

What’s the Story on the Employee Retention Credit?

The Employee Retention Credit has been 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 employer whose business has been financially impacted by the coronavirus and quarantine. Who's eligible?...

17 June, 2020

Tarrant County Has $30 Million Available for Small Business Grants

The Tarrant County Small Business Assistance Grant Program has been established by the Tarrant County Commissioners Court to utilize $30 million in CARES Act funding to provide grants to Tarrant County small businesses who have been financially impacted by the COVID-19 public health emergency, with...

16 June, 2020

Partial PPP Loan Forgiveness Remains if 60% Threshold Not Met

Borrowers under the Paycheck Protection Program (PPP) can qualify for partial loan forgiveness if less than 60% of the PPP loan is used for payroll, the U.S. Small Business Administration (SBA) and Treasury said Monday. Legislation signed June 5 lowered to 60% from 75% the minimum...

09 June, 2020