As companies adapt to a new business environment, leaders need support and information to recover from disruption and grow stronger. We continue to produce breaking updates on today’s biggest issues and insights to navigate ongoing uncertainty. You’ll also find forward-looking strategies to help you thrive and seize opportunities in this new environment.
Ready to put our adaptation and recovery expertise to work for you? To tap into our help in areas like business sustainability, cashflow forecasting, workforce planning and management and more, please contact your RKL advisor.
Join the RKL team for the latest insights and guidance on navigating today’s uncertainty and growing stronger. A continuation of our popular Coronavirus Webinar Series, you’ll get breaking updates on timely issues, forward-looking strategies for adapting in this new environment and one hour of CPE. Recordings of each webinar will be archived on this page.
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In this on-demand webinar, Ryan Hurst, RKL Consulting Partner, and Barry Pelagatti, RKL Audit Partner, provided the latest guidance on PPP loan forgiveness and walked through the potential impact a PPP loan could have on existing debt covenants at year-end. Then, Joe Noll, RKL eSolutions President, provided best practices and answered commonly asked questions on how to successfully lead in a virtual environment.
Yes, per the final bill, the following are employer taxes are included: Section 3111(a) – 6.2% employer portion of social security tax, Section 3221(a) – Railroad retirement payroll taxes, Section 3111(b) – 1.45% Employer portion of Medicare tax.
The legislation is not retroactive. The provisions will apply on April 1 and they will expire on December 31, 2020.
Currently, they are not considered excluded for purposes of qualified employees. The bill does have a section that allows the Secretary of Labor the authority to issue regulations that would exclude this group, however, no such regulations have been issued at this time. Additionally, if regulations are passed, they would allow the employer to elect out, it would not be an automatically exclusion.