combsandco


Federal Payroll Tax Credits for Paying Sick Leave

Check out this great video from colleague, Chelsea Whalley of J Donovan Financial. Chelsea explains how eligible employer tax credits will fully reimburse employers for all qualifying sick and child-care leave payments mandated under the Families First Coronavirus Response Act by REDUCING PAYROLL TAXES owed to the IRS.

*Employers will be entitled to an ADDITIONAL CREDIT for the cost of MAINTAINING HEALTH INSURANCE COVERAGE!*

– Employers will be able to file for accelerated payments to refund employers for qualifying leave payments in excess of federal payroll taxes owed.

– Small businesses will be eligible for an exemption to the mandated sick and leave payments if they demonstrate that payment of child-care leave under the Act threatens the viability of their business.

– Enforcement actions will be delayed by thirty days for employers that act reasonably and in good faith to comply with the Act.

*Note: Information is changing daily, please check with Dept of Labor and/or an employment attorney for exact information*



CARES Act FAQs from Congress Woman Carolyn B. Maloney
Carolyn_Maloney_official_photo

Carolyn B. Maloney

On Monday, Inspector General Michael Horowitz took a strong first step toward implementing the oversight requirements included in the Coronavirus Aid, Relief, and Economic Security (CARES) Act by quickly appointing a Chair for the Pandemic Response Accountability Committee (PRAC). This committee was created by one of the provisions Carolyn B. Maloney offered to the CARES Act as Chairwoman of the Committee on Oversight and Reform.

Maloney’s office created this FAQ sheet for small businesses and nonprofits to help you navigate some of these new resources.



Emergency Paid Sick Leave Explained

Looking for an easy digestible explanation of how the Emergency Paid Sick Leave works for companies under 500 employees?  Check out this great video from colleague, Chelsea Whalley of J Donovan Financial.

– Effective April 2nd 2020 for groups UNDER 500 EMPLOYEES

*A business closure does NOT warrant Paid Sick Leave!*

– All employees are eligible, regardless of tenure
– Differences between Full Time & Part Time Employees
– Full Time: 80 hours of fully compensated time off
– Part Time: Entitled to the Average number of hours worked over 2 weeks



FMLA Expansion for Covid-19 Explained

Curious how the expansion of FMLA will affect you or your business?  Check out this great video from colleague, Chelsea Whalley of J Donovan Financial.



Families First Coronavirus Response Act Simple Flow Chart

Family_PortraitWe’ve been receiving many questions regarding the Emergency FMLA and Emergency Paid Sick Leave Provisions of the Families First Coronavirus Response Act. To help you and your clients understand this new law one of our industry partners, Professional Group Plans, has put together a simple flow chart that makes it easy to determine who qualifies and the benefit required for each provision.

Families First Coronavirus Response Act Simple Flow Chart