Let the Podcasts Begin

Recently I was asked to do my first podcast ever.  Outgrowth a Slice of Pro Beauty Podcast, a group that caters to beauty salon owners and workers, asked me to come on the podcast to discuss the payroll pitfalls when working in or running a salon.  The discuss is in two parts and covers misclassifying workers and the resulting legal ramifications in addition to a whole range of payroll areas that can cause compliance problems. Though generally geared to the beauty salon business, my discussion would be useful to anyone who needs to worry about compliance issues.

I hope you find it useful and informative.

 

 

Be sure to register for our first payroll lecture/webinar of the year.  The topic is the 2021 Form 941 and is being held on Wednesday, March 24th starting at 10:00 am Pacific.  Click here for more details and to register.  Use coupon code CJYFRQA6 at check out to receive a 10% discount as a Payroll 24/7 BLOG FOLLOWER.  The webinar is pending approval by the APA for 1.5 RCHs.

 

What the IRS Thinks You Need to Know About Repayment of Deferred Payroll Taxes

The IRS published in its e-News for Tax Professionals on March 13th the following guidance on repaying of the employee 2020 deferred social security taxes in 2021.  This update includes the provisions of the American Rescue Plan Act signed by President Biden.

The Coronavirus, Aid, Relief and Economic Security Act allowed employers to defer payment of the employer’s share of Social Security tax. IRS Notice 2020-65 allowed employers to defer withholding and payment of the employee’s Social Security taxes on certain wages paid in calendar year 2020. Employers must pay back these deferred taxes by their applicable dates.

The employee deferral applied to people with less than $4,000 in wages every two weeks, or an equivalent amount for other pay periods. It was optional for most employers, but it was mandatory for federal employees and military service members. Repayment of the employee’s portion of the deferral started Jan. 1, 2021, and will continue through Dec. 31, 2021. Payments made by Jan 3, 2022, will be timely because Dec. 31, 2021, is a holiday. The employer should send repayments to the IRS as they collect them. If the employer does not repay the deferred portion on time, penalties and interest will apply to any unpaid balance.

Employers can make the deferral payments through the Electronic Federal Tax Payment System (EFTPS) or by credit or debit card, money order or with a check. These payments must be separate from other tax payments to ensure they are applied to the deferred payroll tax balance. IRS systems won’t recognize the payment if it is with other tax payments or sent as a deposit. EFTPS will soon have a new option to select deferral payment. The employer selects deferral payment and then changes the date to the applicable tax period for the payment. Employers can visit  EFTPS.gov, or call 800-555-4477 or 800-733-4829 for details.

If the employee no longer works for the organization, the employer is responsible for repayment of the entire deferred amount. The employer must collect the employee’s portion using their own recovery methods.

Join us on March 24, 2021 at 10:00 am Pacific for this information-packed webinar

Be sure to register for our first payroll lecture/webinar of the year.  The topic is the 2021 Form 941 and is being held on Wednesday, March 24th starting at 10:00 am Pacific.  Click here for more details and to register.  Use coupon code CJYFRQA6 at check out to receive a 10% discount as a Payroll 24/7 BLOG FOLLOWER.  The webinar is pending approval by the APA for 1.5 RCHs.

 

2021 Payroll Lecture Series Has Begun

I have schedule my first payroll lecture webinar to kick off the 2021 series.  My first topic is the 2021 Form 941.  The lecture will be held on Wednesday March 24, 2021 starting at 10:00 am Pacific time.  The lecture covers:

  • What’s New for 2021
  • Families First Act: Extension of existing credits into 2021 for Paid Sick Leave and Paid Family Leave
  • CARES Act: Status of  deferring employer’s and employee’s social Security
  • IRS Form 7200: Purpose for the form and how it applies to you in 2021
  • Line by line review of the latest Revised Form 941

Register on my website.  Use coupon code CJYFRQA6 at check out to receive a 10% as one of my blog followers.

The webinar has been submitted to the APA for approval for 1.5 RCHs.

Join us on March 24, 2021 at 10:00 am Pacific for this information-packed webinar

Fraud Alert!

It is becoming big business to take a purchased recording of a previously offered webinar and then pass it off as a live event and accept registrations. The more popular and accomplished the speaker the more often this occurs.  I have now been elected to this club of speakers whose webinars are being fraudulently presented.  To combat this I have set up a fraud alert page on my website listing those companies who are offering a webinar by me that I recorded for another company and passing it off as their own.  As I find these webinars I will blast out the names as well as add them on my website.  This, I hope, will prevent any of my social media followers from being ripped off.

So far the following companies have been listed as fraudulent:

  • Compliance World (website spelled ccomplainceworld.com)
  • Seminargrasp
  • Yatharthguru
  • Webaudiotrainers

Today I am adding 24x7conference.com.  They are advertising a year end webinar presented by me on November 17, 2020.  I have no such webinar scheduled on that date for any of my vendors.

If you are unsure of a webinar please email me to confirm before registering.

 

Department of Labor Roadshow Webinars Are Coming Your Way

The U.S. Department of Labor will host four webinars in June and July to discuss how the Department is helping workers and employers by reducing regulatory burdens and making it easier to understand and comply with the law. The webinars will also provide an opportunity for workers, employers, and state and local governments to ask questions and discuss how the Department can expand and improve access to its compliance assistance materials.

All events will include U.S. Department of Labor Deputy Assistant Secretary for Policy Jonathan Wolfson.

The webinars will be hosted by the Department’s Office of the Assistant Secretary for Policy and its Office of Compliance Initiatives. Attendance is free, but attendees must pre-register online. If you have questions, please contact Marisela Douglass at douglass.marisela@dol.gov.

The four webinars are:

Agriculture

Guest Speaker: Wage and Hour Division Administrator Cheryl Stanton

Tuesday, June 23, 2020, 1:00 p.m. to 2:15 p.m. EDT

Register at: Compliance Assistance Webinar 1

 

Manufacturing and Construction

Guest Speaker: Occupational Safety and Health Administration Principal Deputy Assistant Secretary Loren Sweatt

Thursday, June 25, 2020, 1:00 p.m. to 2:15 p.m. EDT

Register at: Compliance Assistance Webinar 2

 

Food Service, Hospitality, and Retail

Guest Speaker: Employment and Training Administration Deputy Assistant Secretary Amy Simon

Tuesday, June 30, 2020, 1:00 p.m. to 2:15 p.m. EDT

Register at: Compliance Assistance Webinar 3

 

Health Care and Emergency Responders

Guest Speaker: Employee Benefits Security Administration Acting Assistant Secretary Jeanne Klinefelter Wilson

Wednesday, July 1, 2020, 1:00 p.m. to 2:15 p.m. EDT

Register at: Compliance Assistance Webinar 4

Last Chance to Register for Form 941:COVID-19 Edition Webinar

Today is the last day to register for our upcoming webinar, Form 941: CCOVID-19 Edition being held tomorrow. The passage of the Families First and Cares Acts have caused massive changes to IRS Form 941 that affect the final three quarters in 2020! 16 new lines now appear on this form along with changes to two others! Are you ready to meet these changes and handle them correctly? Join me tomorrow,  Thurs., May 28th at 10 am Pacific as I examine the Form 941–COVID-19 edition in depth. Use coupon code cjyfrqa6 at checkout for a 10% discount.

The webinar will cover:

  • What’s New for Q2-Q4 2020
  • Families First Act: Credits for Paid Sick Leave and Paid Family Leave
  • CARES Act: including deferring Employer’s Social Security
  • IRS Form 7200: Purpose for the form and how it applies to you
  • Line by line review of the massive changes of the New Revised Form 941

Submitted to the APA for approval for 1.5 RCHs

Form 941: COVID-19 Edition Webinar

The passage of the Families First and Cares Acts have caused massive changes to IRS Form 941 that affect the final three quarters in 2020! 16 new lines now appear on this form along with changes to two others! Are you ready to meet these changes and handle them correctly? Join me on Thurs., May 28th at 10 am Pacific as I examine the Form 941–COVID-19 edition in depth. Use coupon code cjyfrqa6 at checkout for a 10% discount.

The webinar will cover:

  • What’s New for Q2-Q4 2020
  • Families First Act: Credits for Paid Sick Leave and Paid Family Leave
  • CARES Act: including deferring Employer’s Social Security
  • IRS Form 7200: Purpose for the form and how it applies to you
  • Line by line review of the massive changes of the New Revised Form 941

Submitted to the APA for approval for 1.5 RCHs

Payroll Lecture 105: Form 941: COVID-19 Edition

If you thought the 2020 Form W-4 was “fun” now we have Form 941-COVID-19 edition coming for the second quarter of 2020. With 16 new lines this edition is going to be “challenging” to say the least. My new webinar covers all the COVID-19 changes to the Form 941. Join me on Thurs., May 28th starting at 10 am Pacific. Use code cjyfrqa6 at checkout for a 10% discount for my blog followers.

Register today! Only $149.00 (use coupon code bbtk7fcj at checkout for 10% discount)

Date: Thursday, May 28, 2020

Time: 10 am to 11:30 am Pacific (90-minutes)

This Presentation will cover:

  • What’s New for Q2-Q4 2020
  • Families First Act: Credits for Paid Sick Leave and Paid Family Leave
  • CARES Act: including deferring Employer’s Social Security
  • IRS Form 7200: Purpose for the form and how it applies to you
  • Line by line review of the massive changes of the New Revised Form 941

Payroll Lecture 105: 2020 Form 941–COVID-19 Edition

Our next webinar/lecture will cover the 2020 Form 941–COVID-19 Edition.  The passage of the Families First and Cares Acts have caused massive changes to IRS Form 941 that affect the final three quarters in 2020! 16 new lines now appear on this form along with changes to two others! Are you ready to meet these changes and handle them correctly? Here are just some of the new items you must now know and understand:

  • What has changed in Line 11?
  • Where do you enter your total non-refundable credits?
  • Where do you enter the deferred amount of the employer share of social security tax?
  • Where do you enter total deposits, deferrals, and refundable credits?
  • What is entered on Line 22?

This Presentation will cover:

  • What’s New for Q2-Q4 2020
  • Families First Act: Credits for Paid Sick Leave and Paid Family Leave
  • CARES Act: including deferring Employer’s Social Security
  • IRS Form 7200: Purpose for the form and how it applies to you
  • Line by line review of the massive changes of the New Revised Form 941

And more!

Date: Thursday, May 28, 2020

Time:  10:00 am to 11:30 am Pacific (90-minutes)

Cost: $149 per attendee (multiple attendees may attend at one site but only the paid attendee will receive RCHs)

Payroll 24/7 blog followers receive a 10% discount if they register by May 26th using the coupon code cjyfrqa6 at checkout.

Submitted to the APA for 1.5 RCHs

Corona Virus Update

States are working fast and furious to get out their response to the COVID-19 pandemic.  Since my last update blog, Connecticut, Hawaii and Indiana are among the states that have either released or updated the FAQs on their websites with new information on the latest COVID-19 measures.

Some states are offering tax relief in terms of delaying either unemployment insurance payments or withholding tax deposits.  These include: Iowa, Missouri, North Carolina, North Dakota and Texas.  However, Arkansas and Colorado, at this time, are not offering extensions for payments or deposits of withholding taxes.

When it comes to unemployment claims, Ohio, Pennsylvania and Vermont are not charging an employer’s account for SUI benefits claims related to the COVID-19 emergency.

Need more info on the latest for the Corona Virus pandemic and payroll related items?  Today is the last day to register for my webinar tomorrow on all things payroll related to COVID-19 including the Families First Act, the CARES Act (and tax credits), state updates on filing and tax relief and garnishment updates including IRS tax levies and student loans.  Use coupon code BBTK7FCJ at checkout to receive a 10% discount off the $149 registration price.