COVID-19 Small Business Relief
Make sure you are properly coding and paying your employees for coronavirus related incidents. Call us today and we will properly set up your payroll free of charge. To earn tax credits, please use one of these three new hour types to track employee’s Covid-19 related time off:
COVID 100 Sick
Qualifying Absences for COVID 100 Sick
- Is subject to a Federal, State, or local quarantine or isolation order related to COVID-19
- Has been advised by a health care provider to self-quarantine related to COVID-19
- Is experiencing COVID-19 symptoms and is seeking a medical diagnosis
Employees are paid at their regular rate or minimum wage, up to $511 per day and $5,110 in total
COVID 2/3 Sick
Qualifying Absences for COVID 2/3 Sick
- Is caring for an individual subject to an order described in (i) or self-quarantine as described in (ii)
- Is caring for a child whose school or place of care is closed (or child care provider is unavailable) for reasons related to COVID-19
- Is experiencing any other substantially-similar condition specified by the Secretary of Health and Human Services, in consultation with the Secretaries of Labor and Treasury
Employees are paid at ⅔ of their regular rate or minimum wage, up to $200 per day and $2,000 total
COVID Family Leave
Qualifying Absences for COVID Family Leave
For the purposes of this ten-week period, the employee must be caring for a child whose school or place of care is closed (or child care provider is unavailable) for reasons related to COVID-19
The rate of pay for this leave is ⅔ of regular pay or minimum wage up to $200 per day and $10,000 total
We are supporting small businesses by offering FREE bookkeeping and payroll services for a limited time. Sign up today.
Recent Updates (As of 4/01/20)
Coronavirus Stimulus Update: The CARES Act, was passed into law on 3/27 and provides up to $1,200 for individuals, $2,400 for joint taxpayers, and an additional $500 for each qualifying child.
Federal Tax Updates
The federal tax filing deadline has been extended to July 15, 2020.
The federal tax payments deadline and 2020 first quarter estimated tax deadline have been extended to July 15, 2020.
The deadline for making contributions to your IRA for 2019 has been extended to July 15, 2020.
State Tax Updates
Most state tax deadlines have moved to July 15, 2020 following the federal tax deadline
Stimulus Package Updates
Stimulus checks will be up to $1,200 for individuals, $2,400 for joint taxpayers, and an additional $500 for each qualifying child, for those eligible
Amounts will be based on information from your most recent tax filings, either 2019 or 2018 if you have not yet filed this season.
Account Force recommends you file your 2019 tax return now and, if you are getting a tax refund, choose direct deposit, so the IRS has the most recent information.