Federal Sick Leave During Covid-19
March 23, 2020
On Friday, March 20, 2020 the US Treasury Department and the Department of Labor announced Federal sick leave (up to 80 hours) for small and medium sized companies. This money will come in the form of a payroll tax credit. If the employer cannot afford to wait for the payroll...
SC Unemployment Due to Coronavirus
March 23, 2020
The SC DEW has issued guidelines to help your business and employees navigate the unemployment process due to COVID-19. The criteria for qualifying for unemployment due to COVID are if your employer has had to shut down their operations, has had to lay off employees due to loss of operations,...
Corona Virus Tax Relief For Business Tax Payers
March 18, 2020
Businesses Federal Income Taxes The Federal Treasury has extended the due date of your payment by 90 days. This means that individuals can defer payments up to $10 million without accumulating interest and penalties. There have been talks of suspending payroll tax deposits, or allowing your employees to not have...
Corona Virus Tax Relief for Individual Tax Payers
March 18, 2020
Federal Income Taxes The Federal Treasury Has Extended The Due Date Of Your Payment By 90 Days. What Does This Mean? This means that individuals can defer payments up to $1 million without accumulating interest and penalties. This did not extend the date to file your taxes We can apply...
January 18, 2018
By now we have all heard about the new tax laws for 2018 that passed last December. There will be some changes coming up. Losing the deductions for dependents and doubling the standard deduction means that all of your employees may need to fill out a new W4 as those...
February 12, 2017
Below is the notice from the South Carolina Department of Revenue about the rate changes for certain counties in 2017. Effective March 1, 2017 In addition to the current state and local option sales tax rate, Darlington and Kershaw counties will impose a new 1% Education Capital Improvement Tax. Note...
IL Withholding Changes for 2017
December 16, 2016
Several changes are being made to Illinois Withholding Income Tax for tax year 2017.• All withholding taxpayers will be required to file quarterly returns. The annual filing option will no longer be available.• All withholding taxpayers will be assigned to pay withholding income tax on a monthly or semi-weekly schedule....
SC Updates Withholding Tax Tables
November 28, 2016
For the first time in 25 years the SC DOR has updated it's withholding tables to avoid tax payers overpaying from their pay checks. The links are below for the new tables: SC 2017 Withholding Tables SC 2017 Formulas for Computing SC Tax Outdated Withholding Tables Are a Problem For...
IRS Changes Deadlines & Penalties for 1099 & W2
November 19, 2016
If in the past you haven't always been timely in filing your employees 1099's or W2's with the IRS next year you're going to want to make sure you get them done. ASAP! The Trade Preferences Extension Act of 2015 included a large increase in the failure-to-file and filing late...
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