BRINKER SIMPSON BLOG

payroll

Tax Alert To All Employers Effective January 1, 2021

Hiring Employees, Payroll

Tax Alert To All Employers Effective January 1, 2021


Income Tax Withholding

IRS will issue new withholding tables (Publication 15) to reflect changes as of January 1, 2021. When available, the new withholding tables can be obtained at the Internal Revenue website, www.irs.gov.

Read More

Paycheck Protection Program - Be Prepared

"#SBA", CARES, Payroll

As mentioned in our previous email and blog post, on Friday President Trump signed a $2 trillion stimulus package. In a move designed to keep small businesses afloat, the CARES Act allocates $349 billion to loans the Paycheck Protection Program loans under the Small Business Administration. We provided details on the Program in a previous post.

Lenders are working out the final details with the Small Business Administration (SBA), but you can take steps now to prepare for the application process to avoid delays. Applications may be ready to be processed as early as next week. We suggest that you contact your bank and ask if they are qualified SBA 7(a) lenders and participating in the Payback Protection Program. Inform them of your interest in applying and ask how you can prepare. Please feel free to reach out to our team with questions.

Read More