On August 8, 2020, the president issued an executive order to allow the deferral of certain payroll taxes during the last four months of 2020, and the IRS recently provided related guidance. This has implications for both employers and employees. Here’s a brief summary of the issues. Continue reading “Temporary Payroll Tax Deferral: What You Need to Know”
Federal, state, and local governments have extended a number of deadlines amid the Coronavirus pandemic. Here are just a few of the deadlines that have been affected.
Because the COVID-19 situation is dynamic, with new governmental measures each day, employers should consult with counsel for the latest developments and updated guidance.
By Littler Mendelson on April 26, 2020
All RMDs have been waived for tax year 2020, meaning clients will not need to take an RMD from their retirement account for this year.
If clients have already taken all or part of their RMD within the past 60 days, they can re-contribute that amount back into their retirement account, assuming the distribution qualifies for a rollover.
For more information, reach out to the custodian or advisor of the accounts.
Financial Peace of Mind in the Age of Coronavirus
The headlines are hard to ignore. Coronavirus (COVID-19)-related cases and deaths are increasing around the globe, supply chains have been interrupted, financial markets are experiencing historic volatility, and businesses are questioning how they will weather the storm.
When it feels like so many things are out of our control, sometimes the best thing to do is focus on the things that are. Here are five questions to ask for some financial peace of mind in the age of coronavirus. Continue reading “Financial Peace of Mind in the Age of Coronavirus”
Below are two important articles, from some of our most trusted partners in the business.