Question 1

&#x2705; FFCRA - Here's What Employers Must Know!

Accepted Answer

The Families First Coronavirus Response Act (FFCRA) was enacted to the law in response to the novel coronavirus, aka COVID-19. read more

Question 2

&#x2705; Emergency Paid Sick Leave

Accepted Answer

FFCRA (Families First Coronavirus Response Act) has enacted a law that requires employers to provide emergency paid sick leaves to their employees starting from April 01, 2020, due to COVID-19 impact. read more

Question 3

&#x2705; Emergency Family and Medical Leave of Absence

Accepted Answer

The Emergency Family and Medical Leave Act is an expansion of FMLA that applies to employers with less than 500 employees. read more

Question 4

&#x2705; COVID-19 Resources For Small Businesses

Accepted Answer

COVID-19 has been impacting businesses of all sizes—large and small. As a result of which, the global markets are seeing a steep fall in their sales, and many small businesses are finding it challenging to keep their employees afloat. read more

Question 5

&#x2705; Employee Retention Tax Credit: What You Need To Know

Accepted Answer

COVID-19, aka coronavirus, has become a global pandemic, posing a threat to not only the lives of millions but has gravely shaken the global economy as well. read more

Question 6

&#x2705; Social Security Deferral Program

Accepted Answer

Companies worldwide are suffering a huge loss and are seeing a sharp decline in their sales due to the ongoing global pandemic. read more

Question 7

&#x2705; How is the eligible loan amount for COVID-19 Paycheck Protection Program (PPP) calculated?

Accepted Answer

The key element that goes into the calculation of a PPP loan depends on how the business is taxed. For a business organized as a Sole Proprietorship, the eligible loan amount is based on the business’s net profit, whereas for partnership firms, it is based on the self-employment income of partners. read more

Question 8

&#x2705; Paycheck Protection Program

Accepted Answer

The Paycheck Protection Program (PPP), a $349 billion program, is part of the CARES Act and provides loans to help small businesses pay their employees during the COVID-19 pandemic. read more

Question 9

&#x2705; How do I know if there's a delay in processing my Form 7200?

Accepted Answer

The IRS will send letters to taxpayers who have experienced a delay in the processing of their Form 7200, Advance Payment of Employer Credits due to COVID -19 read more

Question 10

&#x2705; How do I know if my Form 7200 is rejected?

Accepted Answer

If your Form 7200 is rejected, the IRS will send you letter 6312 explaining the reason for rejection read more

Question 11

&#x2705; What is letter 6312 from the IRS?

Accepted Answer

If you've filed Form 7200 requesting the advance payment of tax credits, you may receive letter 6312 from the IRS read more

Question 12

&#x2705; What is letter 6313 from the IRS?

Accepted Answer

If you've filed Form 7200 requesting the advance payment of tax credits, you may receive letter 6312 from the IRS read more

COVID-19

Sign Up for a
FREE Paywow Account!

Couldn't find what you
are looking for?

Sign Up for a FREE Paywow Account!

Couldn't find what youare looking for?

Sign Up for a
FREE Paywow Account!

Couldn't find what you
are looking for?