It's that time again! We are currently processing third quarter reports and will pay your 940 and State Unemployment taxes. Payments will be drafted November 2nd. Please be watching for a mailed/emailed quarterly packet.
The employee of the month is awarded to Christin. Because of her outstanding performance, she has been promoted to a Payroll Specialist. She always tries to learn more about her role and is progressing quickly in the payroll world. Christin continues to go out of her way to help others, and is very appreciated.
The Texas Workforce Commission (TWC) is working to prevent fraud and protect employers from chargebacks but, they need your help. When you receive a claim notice from TWC, especially if the employee is working normal hours or if you do not recognize the filer, respond to it as soon as possible.
Below is our understanding of the difference:
FFCRA 511 pays 100% for the qualifying reasons listed below, up to $511 daily and $5,110 total:
1. subject to a Federal, State, or Local quarantine or isolation order related to COVID-19;
2. advised by a health care provider to self-quarantine related to COVID-19;
3. experiencing COVID-19 symptoms and is seeking a medical diagnosis
FFCRA 2/3 is for employees that qualify for the reasons below, up to $200 daily and $2,000 total:
4. caring for an individual subject to an order described in (1) or self-quarantine as described in (2);
6. experiencing any other substantially-similar condition specified by the U.S. Department of Health and Human Services.
FMLA 2/3 is up to 12 weeks of paid sick leave and expanded family and medical leave at 2/3 pay for the qualifying reason listed below, up to $200 daily and $12,000 total:
5. caring for his or her child whose school or place of care is closed (or child care provider is unavailable) due to COVID-19 related reasons.
Please click the button below for the COVID-19 Employee Rights Poster.
- FFCRA wage/Gross wage= percentage of prorated pre-tax deductions
- FFCRA wage less prorated pre-tax deductions = new FFCRA wage
- New FFCRA wage + (new FFCRA wage x 1.45%) = FFCRA credit
The employee is paid wages of $300.00 in FFCRA wages and $200.00 in regular wages.
$300.00 / $500.00 = 60%
($1.00 + $5.00 + $30.00) x 60% = $21.60
$300.00 - $21.60 = $278.40 + ($278.40 x 1.45%) = $282.44
ProPay has begun emailing quarterly reports. Please watch for an email containing your password-protected quarterlies. Follow the information below to understand what will be reported and paid.
FORM 941 - EMPLOYER'S QUARTERLY FEDERAL TAX RETURN
FORM 940 - EMPLOYER'S F.U.T.A. TAX
TEXAS WORKFORCE COMMISSION - EMPLOYER'S QUARTERLY REPORT
The Internal revenue Service reminds taxpayers who filed an extension that the October 15 due date to file 2019 tax returns is approaching. Taxpayers should complete their tax returns and file on or before the October 15 deadline.
Convenient electronic filing options, including IRS Free File, are still available. Taxpayers and tax professionals should continue to use electronic options to support social distancing and speed the processing of tax returns, refunds and payments.
The IRS issued guidance on August 28th (Notice 2020-65) related to the deferral of the employee portion of Social Security taxes. In summary, it appears that employers are not required to permit the deferral, and because of the potential pitfalls and drawbacks described below, employers should consider not deferring any employee’s Social Security taxes absent a compelling reason.
Employers should check guidance often from federal, state and municipal governments and public health authorities for updates that impact their business and employees. The Equal Employment Opportunity Commission (EEOC) has established a page to consolidate workplace guidance related to the COVID-19 pandemic and EEO laws.