Tag Archives: Employee benefits

12.23 2020

Financial Relief Before Year is Over

 

 

This year is end in a week. A spike in COVID-29 cases and related restrictions and shutdown, more people have been laid off and millions of people have received jobless help and benefit.

 

 

Don’t miss out!!!

Before 2020 is over, we still have time to gain some financial relief to help reduce the effects of the pandemic.

Paid sick leave

Fully refundable tax credits are available, as part of the Families First Coronavirus Response Act.

  • Up to $511 per day, or
  • $200 per day if caring for a family member or children if school is closed.

 

Paid family leave

One provision of FFCRA is fully refundable tax credits equal to two-thirds of the employee’s regular pay.

  •  Up to $200 per day, for an employee to care for a child due to school or place of care closure.

 

 

Employee Retention Credit

As part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, provides a fully refundable credit that is 50% of qualified wages.

  • $10,000, for a maximum credit per employee of $5,000 paid from March 13 – Dec. 31, 2020.

 

Important notes about COVID-19 tax credits:

  • For businesses to receive the credits, wages paid must occur by Dec. 31, 2020 or earlier.
  • If a Paycheck Protection Program loan was taken, the employer would not be eligible for the Employee Retention Credit.
  • Employers who choose to file one or more Forms 7200 to request an advance payment of the tax credits, the last day to file is either Feb.1, 2021, or the date employer’s Forms 941 are filed for forth quarter 2020, whichever is earlier. Any Forms 7200 received after that date will be rejected by the IRS

 

 

08.15 2012

New Ordinance: Seattle Paid Sick leave

Learn about City of Seattle's new ordinance for sick and safe time.As of September 1, 2012, the City of Seattle will require employers to offer paid sick and safe time to their employees. Here’s what you need to know:

  • All businesses with 5+ employees are required to track employee hours worked, and sick and safe time accrued and used.
  • Sick and safe time includes leave for mental or physical illness, the need to care for a family member, and other reasons (more details here).
  • Required accrual rates are based on the number of employees per business.  See requirements here.

Visit the City of Seattle website for more information.