WYCOTAX Presents: 5 IRS Emergency Business Funds under the CARES Act

Description

Two COVID-19 legislations gave generous tax incentives for employers through payroll tax and business losses. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed on March 27, 2020, it was a supplement to Families First Coronavirus Response Act (FFCRA), signed March 18, 2020. The following emergency funds include:

The July 29, 2020 Seminar will cover Payroll Tax Deferrals
Section 2302 of the CARES Act provides that employers may defer the deposit and payment of the employer's portion of Social Security taxes and certain railroad retirement taxes.