Simply Tax Episode 92: Payroll-Related Relief
Due to the SARS-CoV-2 virus (COVID-19), Washington recently enacted legislation providing various relief measures. In episode two of our COVID-19 Response Series, guest Ryan Peterson and host Damien Martin discuss the payroll-related provisions provided under this new relief. We’ll cover items of common confusion, identify areas needing additional guidance and explain what these newly enacted provisions may mean for you and your business. We’ll also hear from Yelena Bosovik and Julia Dengel on the expansion of emergency family and medical leave and employer tax credits. Here’s what’s covered:
- Payroll-specific relief under the Families First Coronavirus Relief Act (FFCRA) @02:39
- FAQ on the specifics of the relief provided under the FFCRA @06:46
- Employee retention credit under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) @15:03
- A few things should be doing now @20:44
- Common misconceptions @24:49
- Delay of payment of employer payroll and self-employment taxes @27:48
- Ryan’s recommended approach to the relief provisions @29:50
- Closing thoughts @31:17
BIO FOR GUESTS
Ryan Peterson is a director in BKD’s Chicago practice and provides outsourced accounting, consulting and advisory services for closely held organizations and their shareholders. His other areas of expertise include traditional accounting, payroll and sales taxation, financial statement preparation and small business accounting software package assistance. Ryan serves numerous clients in the healthcare, manufacturing, professional services and not-for-profit industries.
Yelena Bosovik serves as a national senior associate in BKD’s National Office Tax Department.
Julia Dengel serves as a national tax manager in BKD’s National Office Tax Department.
- BKD COVID-19 Tax & Accounting Resource Center
- BKD webinars:
- View archive: Tax Considerations Surrounding COVID-19 (March 26, 2020)
- Register now: SBA Loans, Payroll Tax Credits & General Business Planning Considerations (April 2, 2020)
- BKD alerts:
- More episodes from our COVID-19 Response Series:
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