December 31, 2020 – COVID Relief Bill: Tax credits for paid leave extended to March 31 A new $900 billion coronavirus relief bill became law and answers the question of whether federal Emergency Paid Sick Leave (EPSL) and Emergency Family and Medical Leave (EFMLA) will be extended. Offering Emergency Paid Sick Leave (EPSL) and Emergency […]
November 20, 2020 – IRS Releases New Guidance on Tax Treatment of PPP Loan Expenses November 18, the U.S. Treasury Department and Internal Revenue Service (IRS) released guidance clarifying the tax treatment of expenses where a Paycheck Protection Program (PPP) loan has not been forgiven by the end of the year the loan was received. “Today’s guidance provides taxpayers with greater clarity and flexibility…These provisions ensure that all small businesses […]
September 4, 2020 – Effective January 1, 2021, the State of Florida will be mandating a new E-Verify Law. This law will require all public employers, including local school districts, public universities and colleges, and state and local agencies, as well as their private contractors, to use E-Verify. Below is a summary of this new law. Every public employer, contractor, and subcontractor in Florida must enroll in and […]
August 28th, 2020 – The Congressional enactment of the Pandemic Emergency Unemployment Compensation (“PEUC”) Program earlier this year provided employees who qualified for pandemic related unemployment benefits to receive an additional federally funded $600 weekly unemployment benefit over and above regular unemployment benefits. This weekly benefit ended on July 31, 2020, when Congress failed to reach an […]
August 24th, 2020 – On August 8th, 2020, the President issued an Executive Memorandum allowing employees who make less than $104,000.00 a year to defer their payroll taxes starting September 1 through the end of 2020. We – along with the rest of the business community – are awaiting guidance from the Treasury Department to implement this memorandum. At issue, are the future […]
August 11th, 2020 – On Saturday, the President issued an executive memorandum regarding a payroll tax delay. The memorandum directs the Secretary of the Treasury to implement a delay of certain employees’ obligations to pay Social Security taxes. The payroll tax provision requires guidance to be issued by the Department of Treasury. Until that guidance […]
June 2, 2020 – GREAT NEWS!!! Vested HR Solutions, LLC * (“VHR”) is proud to announce that we have recently achieved accreditation with Employer Services Assurance Corporation (“ESAC”). ESAC is the gold standard for the PEO industry, just as FDIC is the gold standard for banks. For our PEO to be accredited by ESAC, VHR must meet more than 40 financial and […]
June 26, 2020 – As Employers begin to return their employees back into the workplace, Vested HR has information that may help you in this process. What Should Employers Consider in Bringing Back Furloughed or Laid-off Employees? Just as with lay-offs or furloughs themselves, employers need to make sure that their procedures for choosing which workers will return to work, are done in a non-discriminatory manner. Adverse impacts […]
June 5, 2020 – The President has signed the Senate approved bill which had been passed by the House of Representatives, and that significantly modifies the Paycheck Protection Program (“PPP”) rules. The major changes to the PPP program include: Deadline to Use the Loan Proceeds: Borrowers now have 24 weeks to use their PPP funds, extended from the […]
(COVID–19 Update) As the coronavirus (COVID–19) situation evolves, the health and well-being of our employees, customers, and the communities in which we operate remains our top priority. We are closely monitoring developments while preparing for a number of scenarios. We have implemented the following measures to support our employees and the businesses who depend on Vested […]
