Payroll tax deferral OK with PPP loan – but be careful
The ability to defer certain payroll taxes for employers who received a PPP loan is one of the benefits of the recently enacted Payroll Protection Program Flexibility Act. When the CARES Act first passed in April, employers had the option to defer paying the employer portion of Social Security tax through the end of 2020, […]
CARES Act contains two payroll tax provisions to help employers
Opportunities to preserve some cash flow during the coronavirus health crisis are available through the CARES Act whether or not you received a loan through the Paycheck Protection Program. Employee Retention Credits. One of those provisions under the CARES Act allows eligible employers to qualify for a refundable credit against, generally, the employer’s portion of the […]