[Source: CalChamber] Employers are becoming familiar with the new Families First Coronavirus Response Act (FFCRA), which provides new COVID-19-related federal emergency paid sick leave and emergency family and medical leave. As employees start using the new leave, it’s important for employers to collect and maintain proper documentation, not only for their own records, but also Read More…
Tag: IRS
Some small business owners could avoid cap on state and local tax deduction after IRS clarifies new rules
[Source: Los Angeles Times] Small business owners could avoid a new federal limit on state and local tax deductions after the Internal Revenue Service said Wednesday that rules it released last month to prevent efforts in California and other states to circumvent the cap apply only to individuals. Businesses will be allowed to claim a Read More…
Remember: W-2s due January 31 to IRS
[Source: CalChamber] The Internal Revenue Service (IRS) reminds employers and other businesses of the January 31 filing deadline that now applies to filing Form W-2 wage statements and independent contractor forms. Under the Protecting Americans from Tax Hikes Act, employers are now required to file their copies of Form W-2 and Form W-3 with the Read More…