1. Extension of paid leave tax credits Under the FFCRA, employers with under 500 employees generally must provide paid leave to certain individuals impacted by COVID-19.  This requirement goes through December 31, 2020, and employers are eligible for a credit against payroll taxes to mitigate the cost of this leave.  The Act does not require…

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1. Form 941 and Form 940 (Deposit Only) As of April 15, 2020, the Internal Revenue Service has NOT announced any extension about Form 941 which will be due by April 30, 2020.  The Service neither announced the deferral of payroll taxes due in the month of April. 2. EDD Statewide – March 2020 Employers…

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IRS provides additional extensions: Income tax filing and payment, estimated tax payments, IRA and HSA contributions The IRS has now expanded its extension relief to most taxpayers who had income tax filing and/or payment obligations due on or after April 1, 2020, and before July 15, 2020, including second estimated tax payments that fall within…

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Under existing law, county tax collectors do not have the authority to extend the property tax deadline. Penalties can be waived under following two circumstances: Offices of any county tax collector are closed and, as a result, taxpayers are unable to make property tax payments to that county by April 10. Online payment and pay-by-mail…

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On March 27, 2020, the Los Angeles City Council approved the following emergency COVID-19 ordinances. 1) COVID-19 Supplemental Paid Sick Leave (“SPSL”)(Article 5-72HH)http://clkrep.lacity.org/onlinedocs/2020/20-0147-s39_ord_draft_03-27-20.pdf ApplicableEmployers are obligated to provide 80 hours of SPSL to applicable employees.The ordinance expires on December 31, 2020 unless the City Council takes action to extend the ordinance.  Applicable employers The new…

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On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act, a stimulus bill that includes a loan program to keep small businesses afloat during mandated COVID-19-related closures. Here are the details:   1. Stimulus Check to Individual Taxpayers Maximum $1,200 for a Single taxpayer ($2,400 for married…

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1. IRS IRS will waive interest and penalty charges for 90 days for Americans who owe up to $1 million in taxes. Tax filing due date is not extended so filing is encouraged by April 15; it’s unclear at this time whether the IRS will officially extend that filing deadline as well. https://home.treasury.gov/news/press-releases/sm948 2. The…

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