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Employment News

New, Easy Forgiveness for PPP Loans of $50,000 or Less

By Employment News, News

To provide financial and administrative relief to America’s smallest businesses, the U.S. Small Business Administration, in consultation with the Treasury Department, finally released a simpler loan forgiveness application exclusively for Paycheck Protection Program (PPP) loans of $50,000 or less. Approval of PPP forgiveness applications and remittance of payments to PPP lenders for PPP borrowers began on October 2, 2020. Visit: https://www.sba.gov/article/2020/oct/08/sba-treasury-announce-simpler-ppp-forgiveness-loans-50000-or-less for more details, instructions and to download the forgiveness application.

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New IRS Guidance Allows for a Payroll Tax Holiday: Should Your Employees Participate?

By Employment News, Payroll, Withholding Taxes

  The IRS issued Notice 2020-65 on August 28, allowing employers to suspend withholding of employees’ Social Security payroll taxes as part of COVID-19 relief. The IRS is essentially giving employees a loan to try and help them through a tough period but it remains to be seen whether those employees who often live paycheck to paycheck will be able to afford to repay the loan, through a doubling of their payroll deductions next spring….

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New Georgia Lactation Law Requires Paid Breaks

By Employment Law, Employment News, Uncategorized

Georgia passed HB 1090 on August 5, 2020, which requires employers to provide reasonable break time to working mothers who desire to express breast milk at their worksite during working hours. The new law also requires employers to provide working mothers with a private location, other than a restroom, where they can express milk. And in contrast to existing Federal Fair Labor Standards Act (FLSA), it requires that the lactation breaks be paid at the…

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Preparing for PPP Loan Forgiveness

By Employment News, News

As many of the businesses who applied for and were granted PPP loans have since exhausted their funds, we’re beginning to receive calls from diligent accounting professionals and controllers requesting assistance documenting their spend. Simultaneously, we’re beginning to hear from banks that they will be opening their doors to loan forgiveness applicants very soon. Here’s the rub: very few if any banks have clearly spelled out what they want to see in their loan forgiveness…

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Get Your Signs Ready: Complying with the Georgia COVID-19 Pandemic Business Safety Act (GCPBSA)

By Employment Law, Employment News, News, Workers' Compensation, Workplace Injuries

Earlier this summer the Georgia legislature came together in support of businesses to craft much-demanded legislation to protect business owners from the liability associated with claims that customers and employees contracted COVID-19 in their place of business. The Georgia COVID-19 Pandemic Business Safety Act (GCPBSA) went into effect last Friday, August 7, and expands upon language originally extended to healthcare professionals and healthcare facilities. Protection is now provided for nearly all public, private, sacred or…

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Making Decisions Regarding PPP Loan Disbursements

By Employment News, News

Key Points: Small businesses are starting to receive approval on their Paycheck Protection Program loans. The program is intended to enable rehiring of furloughed workers. Some businesses are using the funds immediately to rehire workers while others are evaluating other options. As businesses start to receive approval on their Paycheck Protection Program (PPP) loans, decisions will need to be made about furloughing or rehiring employees, depending on the business’s needs. The PPP’s Intent The Small…

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Are Hardship Withdrawals from Your Retirement Account a Good Idea Right Now? Experts Say No.

By Employment News, News, Retirement Planning

The Coronavirus Aid, Relief, and Economic Security (CARES) Act contains a provision that allows up to $100,000 be withdrawn from a 401(k), IRA or other retirement plan without the 10% early withdrawal penalty that is typically imposed on withdrawals made before the account owner reaches age 59-1/2. Those who decide to use this option can claim a “coronavirus related distribution” (CRD). According to Market Watch, a CRD can be taken by any person who has…

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GDOL Offers Unemployment Claims Tips for Employers

By Employment News, News

In an ongoing effort to keep you informed of the latest labor-related announcements, we wanted to share some information released for employers by the Georgia Department of Labor (GDOL) this week. As the GDOL works to process an unprecedented volume of claims, it offers the following advice for helping them get benefits out to employees as quickly and efficiently as possible. Employer Filed (Partial) Claims All Georgia employers are required to file partial claims online…

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Georgia DOL Completes Process for Adding $600 in Federal Payments to Unemployment Benefits

By Employment News, News

On Thursday, April 2, the U.S. Department of Labor (DOL) held a conference call to discuss the implementation of the CARES (Coronavirus Aid, Relief, and Economic Security) Act. A significant component of the CARES Act is the provision of Federal Pandemic Unemployment Compensation of $600 weekly in addition to regular state benefits. The Georgia DOL has signed all of the necessary agreements to access funding for this program. You can read more about the state’s…

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New FCCRA Provision Allows Some Employers to Recover Leave-Related Payroll Expenses

By Employment News, News

The news flowing about approved and pending legislation related to the Coronavirus is monumental and complex to interpret. In addition to the legal briefs that we shared with you on Friday, more information has come to our attention that you need to consider when evaluating leave requests from staff. Please read: U.S. Treasury, IRS and Labor announce plan to implement Coronavirus-related paid leave for workers and tax credits for small and midsize businesses to swiftly…

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