How to Utilize the SharedWork Ohio Voluntary Layoff Aversion Program
SharedWork Ohio (SWO) is a voluntary layoff aversion program through the Ohio Department of Job and Family Services (ODJFS). It allows Ohio employers to retain staff during periods of reduced business activity. Participating employers reduce the hours of affected employees by between 10 and 50 percent in a uniform manner.
Updated Guidance on Tax Credits for Paid Sick, Paid Family and Medical Leave
Updated Guidance on Tax Credits for Paid Sick, Paid Family and Medical Leave and Employee Retention Credits as well as Advance Payments of these credits The IRS has issued guidance indicating that wages paid for sick and family leave under the Families First Coronavirus Response Act (FFCRA) starting today, April
IRS Releases Details on Receiving Coronavirus Economic Impact Payments
Economic impact payments: What you need to know In an information release, the Treasury Department and IRS have announced that distribution of economic impact payments, made as part of the Coronavirus Aid, Relief, and Economic Security Act (P.L. 116-136, 3/27/2020, the Act), will begin in the next three weeks and
President Trump Signs the CARES Act: Phase Three Coronavirus Relief
On March 27, 2020, the President signed the $2.2 trillion Coronavirus, Aid, Relief, and Economic Security (CARES) Act. Listed below are the tax highlights of the legislation. For Individuals Recovery checks for individuals Each individual with income under $75,000 single or $150,000 for married filing joint, will receive a check
Banks Give Green Light for Lending
During uncertain times, when fear can lead to generalizations and assumptions can be made based on a single data point of a given trend, facts can be a steadying influence. In the face of pervasive beliefs to the contrary, local banks are indeed still lending money for working capital lines
Detailed Business Tax Provisions in the CARES Act
The Coronavirus, Aid, Relief, and Economic Security (CARES) Act passed in the Senate in the evening of March 25, 2020. Details of the Senate bill follow: For Businesses Employee retention credit for employers This provision provides a refundable payroll tax credit for 50% of wages paid by eligible employers to