Greetings!

As things continue changing day by day, we want to share some relevant tax updates and other information. We hope this email finds you well, and please reach out to us if there is anything we can help with.

IRS Drafts Form 941 to Accommodate COVID-19
Employment Tax Credit Reporting
The revised Form 941 will contain extensive changes, including:
  • Parts 1 and 3 of Form 941 will be significantly expanded to account for the new credits eligible employers can claim for COVID-19-related qualified paid sick leave and expanded family and medical leave and the employee retention credit. Employers choosing to defer their portion of social security tax will also report the deferral on the Form 941.
  • Employers will use the new Worksheet 1, Credit for Sick and Family Leave Wages and the Employee Retention Credit, to calculate these credits.
  • Employers that requested an advance of the qualified leave credits and/or the employee retention credit by filing Form 7200, Advance Payment of Employer Credits Due to COVID-19, will report the amount of the advances on the revised Form 941.

To view the draft Form 941 on the IRS website, click here.
Are You Prepared for the
Upcoming Hiring Surge?
As States are starting to reopen for business, it is important that you have the right recruiting and on-boarding solutions to hire quickly and at scale.  Employers will be struggling to compete for the same candidates, so here’s how we can support you: 
 
  • Setup now with no cost 
  • Recruit faster with text-to-apply 
  • Onboard smarter while staying compliant 
  • Increase cash flow with WOTC 
 
On top of that, you will not pay anything for these services until 2 months after your business reopens!  And taking advantage of WOTC tax credits will significantly reduce your fees or pay for these solutions in full. 
 
Since you are a current payroll client, we have been able to configure these solutions for you, allowing us to shorten the implementation process.

Once you give us the green light, we can work with you to finalize the implementation and get you ready to recruit and onboard in as little as 3-5 days. Getting setup now allows us to get everything in place for you before your critical hiring begins.

Reach out to your CSR so we can get started!
Preparing for Reopening
Although each state has it's own set of requirements for reopening, there are many recommendations that will be relevant for all restaurants looking to open their dining rooms again. On our blog, we share tips on social distancing, employee health, and cleanliness. Following the rules and regulations are important, but ensuring that customers know you care about their health and wellbeing should be top of mind to build trust as people begin going out again.

Are you utilizing
self service?

What is the benefit of enabling self service for your employees?
Enabling self service frees up managers' time, allowing employees to update and access their own information based upon the permissions you allow. The abilities that employees have within self service are entirely up to you and can be modified at any time.
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PPP Dilemma
With many businesses eagerly applying for PPP loans, some employers raise a valid concern: if employees refuse to return to work, will that affect their loan forgiveness recalculation? Read more on Littler's blog here

CalSavers Extends Deadline


California employers are required by state law to facilitate CalSavers if they don’t offer an employer-sponsored retirement plan and have five or more employees. All eligible employers can register at any time prior to their registration deadline.

The due date for employers with more than 100 employees is September 30, 2020, extended from the original date of June 30.

For more information on the Cal Savers website, click here .

We can help with transmitting employee and contributions files to the state, respond back to this email for assistance.
Payarc HCM
(916) 757-6777
1430 Blue Oaks Blvd Suite 270
Roseville, CA 95747