One of the key provisions under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provides relief to eligible employers in the form of a fully refundable credit against employment taxes.
Eligible employers, including tax-exempt organizations, will be granted a tax credit against employment taxes equal to 50% of qualified wages paid after March 12, ... Read More ›
On March 18, 2020, the Families First Coronavirus Response Act (FFCRA) was enacted. FFCRA addresses paid sick and family leave, including tax credits for employers. Legacy Professionals LLP has prepared a summary of the key provisions related to FFCRA: FFCRA Chart
Please contact your Legacy representative if you need assistance or have questions.
The Paycheck Protection Program (“PPP”) was established under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The PPP authorizes up to $349 billion in forgivable loans to small businesses and charitable nonprofit organizations to pay their employees during the COVID-19 crisis.
All businesses and charitable nonprofit organizations, sole proprietorships, self-employed individuals, and independent contractors with ... Read More ›