Blog - Legal & Regulatory Updates
Legal & Regulatory Updates, Human Resources & Payroll
Deadlines Approaching for Repayment of Deferred Payroll Taxes
12/8/2021
In an attempt to boost the economy in the midst of the Coronavirus pandemic, the government allowed employers to defer certain payroll taxes for both employers and employees in 2020. Those who opted to do so must pay back the deferred taxes by the applicable deadline. Please read on for more information. Read more...
Legal & Regulatory Updates, Human Resources & Payroll
FFCRA Update
9/28/2021
We're writing with an update on paid sick leave (PSL) and paid family leave (PFL) provided by the Families First Coronavirus Response Act (FFCRA). Please let us know if you have any employees out on COVID-related leave as soon as possible. Read more...
Legal & Regulatory Updates, Human Resources & Payroll
TWC Clarifies 2nd Quarter Payment Deadline
8/31/2021
The Texas Workforce Commission (TWC) recently sent out incorrect payment deadlines on their Statement of Employer Accounts, which are generated by its Unemployment Insurance Tax System. On August 30, the TWC clarified that the second quarter tax payment deadline is actually September 30, 2021. Interest will begin to accrue October 1 for payments not made by that date. Below are the deadlines released by the TWC. Read more...
Legal & Regulatory Updates, Human Resources & Payroll
ERC May End Early to Pay for Infrastructure Bill
8/10/2021
Last week, two pieces of news related to Employee Retention Tax Credits (ERC) were released. First, on August 2, details of the infrastructure bill were released, including an announcement that the proposed legislative package in its current form would largely end the ERC on September 30 instead of the current December 31 deadline. Meanwhile, on August 4, the IRS released Notice 2021-49, which provides guidance and clarification on the ERC. Read more...
Legal & Regulatory Updates, Human Resources & Payroll
COVID Stimulus: American Rescue Plan
3/19/2021
On Thursday, March 11, a new COVID-19 stimulus package was signed into law: the $1.9 trillion American Rescue Plan (ARP). It includes updates to many of the COVID-relief programs with which business owners have become familiar: the Paycheck Protection Program (PPP), Employee Retention Credits (ERC), Paid Leave Credits, and the Economic Injury Disaster Loan Program (EIDL). One new grant program, the Restaurant Revitalization Fund (RRF), was also created. Please read on for details of programs that will affect business owners. Read more...
Legal & Regulatory Updates, Human Resources & Payroll
IRS Releases Guidance on ERC: New Notice Explains Changes Made in December's Stimulus
3/11/2021
On Monday, March 1, 2021, the Internal Revenue Service (IRS) released Notice 2021-20 (Guidance on the Employee Retention Credit under Section 2301 of the Coronavirus Aid, Relief, and Economic Security Act). The Employee Retention Credit (ERC) was created under the Coronavirus Aid, Relief, and Economic Security (CARES) Act and was amended in December as part of the Consolidated Appropriations Act. One major change is that Paycheck Protection Program (PPP) participants are now allowed to take advantage of ERC. Notice 2021-20 provides guidance on key questions about how PPP participants may retroactively claim ERC for wages paid in 2020. Read more...
Legal & Regulatory Updates, Human Resources & Payroll
IRS Communication & Guidance: We Are Awaiting Guidance On ERC From IRS; Meanwhile, IRS Is Sending Confusing Notices
1/28/2021
We are expecting additional guidance from the IRS on how companies that are newly eligible may claim Employee Retention Credits (ERC) and will work to process credits for your business as soon as we have instructions from the IRS. Read more...
Legal & Regulatory Updates, Human Resources & Payroll
Employee Retention Credits: Enhanced By Recent Stimulus Package
1/15/2021
The recent stimulus package, the Consolidated Appropriations Act, 2021, (CAA), signed into law on December 27, 2020, made some significant changes to Employee Retention Credits (ERC). One major update is that employers who have received a Paycheck Protection Program (PPP) loan may also receive ERC, which had not been allowed under the previous rules. Read more...
Legal & Regulatory Updates, Human Resources & Payroll
FFCRA Paid Leave Update: Employer Tax Credits Extended to 3/31/21
12/31/2020
One area addressed in the recent stimulus package, signed into law on December 27, 2020, is paid leave mandated by the Families First Coronavirus Response Act (FFCRA). FFCRA’s mandate for certain employers to provide paid leave and receive a tax credit to reimburse the cost of that paid leave was set to expire on December 31, 2020. Read more...
Legal & Regulatory Updates, Human Resources & Payroll
COVID Stimulus: PPP Round 2
12/28/2020
On Sunday, December 27, a new COVID-19 stimulus package was signed into law. The $900 billion deal is a 5,000+ page bill that features many meaningful programs that affect individuals, small businesses, nursing homes, communities, colleges, universities and K-12 schools. Read more...
Legal & Regulatory Updates
PPP Update: It May Be Time For Loan Forgiveness
11/10/2020
To say that 2020 has been a whirlwind may be a little bit of an understatement. The situation with the pandemic, shutdowns, and government response has forced business owners to be more reactive than proactive. Read more...
Legal & Regulatory Updates, Human Resources & Payroll
Modifications to FFCRA Regulations: Paid Sick Leave
9/25/2020
As a result of the recent New York federal court ruling, which rejected portions of the Families First Coronavirus Response Act (FFCRA) regulations, the Department of Labor (DOL) issued revised rules that went into effect on September 16, 2020, and will continue to be enforceable through the end of 2020. Read more...
Legal & Regulatory Updates
PPP Update: Strategically Timing Your PPP Forgiveness Application
9/23/2020
Several bills have recently been introduced in Congress aiming to largely simplify the PPP forgiveness process. At least two of these bills – US Senate Bill 4117 and US Senate Bill 4321 – aim for automatic forgiveness of a loan that is not more than $150,000 if the recipient submits a one-page form. Read more...
Legal & Regulatory Updates
New Rules: Executive Order for Bexar County
6/19/2020
On June 17, 2020, County Judge Nelson Wolff issued Executive Order NW-10, which includes several mandates for both individuals and businesses in Bexar County. Read more...
Legal & Regulatory Updates
PPP Update: SBA Releases New Loan Forgiveness Application
6/19/2020
As a result of the Paycheck Protection Program (PPP) Flexibility Act of 2020, on June 17, the US Small Business Administration (SBA) released a revised Loan Forgiveness Application and simplified “EZ Application” for use by certain borrowers. Read more...
Legal & Regulatory Updates
Main Street Lending Program: A New Source of Capital for Small Business
6/19/2020
The Main Street Lending Program (MSLP) was created by the Federal Reserve to “support lending to small and medium-sized businesses that were in sound financial condition before the onset of the COVID-19 pandemic.” Loans range from $250,000 to $300 million depending on the facility being used. The lender portal for the MSLP opened on Monday, and while some banks that applied are still awaiting approval, many are preparing to provide these loans to clients. Read more...
Legal & Regulatory Updates
PPP Flex Act: New Information
6/12/2020
Last Wednesday, June 3, the Senate passed by unanimous consent the Paycheck Protection Program Flexibility Act, which had previously passed the House on a 417-1 vote. The Act became Law officially on Friday, June 5. The legislation modifies the original requirements with hopes of making loan forgiveness more flexible and, therefore, more attainable. And, so far, it appears that may be the case. Read more...
Legal & Regulatory Updates
PPP Fixes Passed: Paycheck Protection Program Flexibility Act
6/4/2020
On Wednesday, June 3, the Senate passed by unanimous consent on a voice vote the Paycheck Protection Program Flexibility Act, which had previously passed the House on a 417-1 vote. The Act was in response to complaints about some stipulations of the Paycheck Protection Program’s loan forgiveness. The legislation modifies the original requirements with hopes of making loan forgiveness more flexible and, therefore, more attainable. Read more...
Best Practices, Legal & Regulatory Updates
SBA PPP Loan Application
5/17/2020
On Friday, May 15, the Small Business Administration (SBA), in consultation with the Department of the Treasury, released the Paycheck Protection Program (PPP) Loan Forgiveness Application and detailed instructions for the application. Read more...
Best Practices, Legal & Regulatory Updates
How to Plan for PPP Loan Forgiveness
4/24/2020
On Friday, 4/24/2020, Kim Moore participated in an online Zoom call hosted by Shannon Badger with Badger CPA to discuss Paycheck Protection Program (PPP) loan forgiveness and documentation requirements. They covered allowable expenditures, strategies for allocating funds, and best practices for documentation. Please see the corresponding Q&A document that includes information covered during the discussion. Read more...
Best Practices, Legal & Regulatory Updates
PPP SBA Loan Forgiveness Request
4/20/2020
In an Interim Final Rule issued April 14, the SBA provided its process for submitting a request for forgiveness. The rule indicates that the request could be submitted as early as the end of the week seven of the 8-week covered period. Read more...
Best Practices, Legal & Regulatory Updates
CARES Act: Additional Provisions that Might Affect You
4/20/2020
The CARES ACT was a $2+ Trillion unprecedented Act of Congress designed to provide relief to Americans who have been negatively affected by COVID-19 and subsequent "Stay at Home" orders. Up until now, most of our attention has been devoted to the SBA Payroll Protection Program loans because it had such a short window of time to respond. However, the law includes some other elements that could be beneficial for you. Read more...
Best Practices, Legal & Regulatory Updates
The CARES Act: Expanded Unemployment
4/20/2020
The CARES ACT, through a provision called Pandemic Unemployment Assistance (PUA), has expanded both the amount that can be collected and who is covered under PUA. Read more...
Best Practices, Legal & Regulatory Updates
SBA PPP: Managing the 8-Week Process
4/15/2020
We've prepared some guidelines to help if you have applied for an SBA Payroll Protection Program (PPP) loan. What's next? Our article explains how you might prepare for loan funding and expense documentation. While new information and guidance from the SBA is expected, we're providing this feedback in our best effort to keep you abreast of what to expect next as this situation evolves. Read more...
Legal & Regulatory Updates, Human Resources & Payroll
Paycheck Protection Program
3/30/2020
On Friday, March 27, the Coronavirus Aid, Relief and Economic Security (CARES) Act was signed into law, providing an unprecedented level of emergency assistance for families and businesses affected by COVID 19. Read more...
Legal & Regulatory Updates, Human Resources & Payroll
Update: San Antonio Paid Sick Leave Ordinance Postponed to December 1
7/19/2019
The San Antonio Paid Sick Leave ordinance that was scheduled to go into effect in San Antonio on August 1 has been postponed until December 1. Read more...
Legal & Regulatory Updates, Human Resources & Payroll
Update: San Antonio & Dallas Paid Sick Leave Mandates are Effective August 1
7/15/2019
While a court injunction still blocks the paid sick leave (PSL) ordinance in Austin, the San Antonio and Dallas ordinances are on track to become effective on August 1, 2019 for employers with more than 5 employees working within city limits. The ordinance doesn’t require that an employer is based in San Antonio or Dallas, simply that an employee spends time working on behalf of the employer within those cities. Do you have any employees who work 80 hours per year within Dallas or San Antonio? Read more...
Legal & Regulatory Updates, Human Resources & Payroll
Next Steps: Local Paid Sick Leave Mandates
5/31/2019
In our last installment, we discussed the status of action by the Texas Legislature to block local paid sick leave ordinances that have passed in Austin, San Antonio, and Dallas. This legislation did not pass in the Texas House and therefore was not signed into law. That means that local paid sick leave ordinances in San Antonio and Dallas will come into effect starting August 1, 2019, unless some other action is taken. The latter part of this article will describe the ordinance in detail, but let’s start with who is affected and who is not. Read more...
Legal & Regulatory Updates, Human Resources & Payroll
Paid Sick Leave Stands? Bills to Ban Local Ordinances Have Stalled in Texas Legislature
5/22/2019
Local paid sick leave ordinances have now passed in Austin, San Antonio, and Dallas. Austin’s ordinance is on hold after an Appeals Court found it was unconstitutional and preempted by Texas’s minimum wage law. That court remanded the case back to district court for further proceedings, and Austin may appeal that decision. Many in the business community had hopes that Texas would pass legislation banning local paid sick leave ordinances. Now, it seems like the proposed bills are stalled out in the Texas House and do not appear on the calendar to be voted on before the end of the Legislative Session. Read more...
Legal & Regulatory Updates
SSN No-Match Letters: What Should You Do if You Receive One?
4/10/2019
The Social Security Administration (SSA) has again started sending no-match letters, which indicate that a W-2 submitted by an employer does not match up with the name and social security number (SSN) that the SSA has on file. The discrepancy could simply be the result of a typo, but it may also be the result of a more serious issue, such as identity theft. Employers who receive these letters must try to resolve the error without taking any adverse action against the employee based solely on the letter. Read more...
Legal & Regulatory Updates
Tax Reform Effects: Smaller Tax Refunds Reported
2/15/2019
Tax season has begun, and preliminary reports show that the average refund is down about 8% from the same time last year, from $2,035 to $1,864, causing speculation that consumer spending may be hurt due to refund reductions. At the time of the report, approximately 16 million returns had been filed and 13 million were processed. During the 2017 tax season, nearly 152 million returns were processed, and some argue that the small sample size so far this year may skew the data and not be a true indicator of the overall population. The Internal Revenue Service provides filing season statistics every year, which will be needed to see whether these preliminary reports prove to be true. In the meantime, what might cause this change in dynamics? Read more...
Legal & Regulatory Updates, Human Resources & Payroll
Austin Paid Leave Ordinance Temporarily Suspended
8/24/2018
In February, the Austin City Council passed an ordinance requiring employers to provide paid sick leave to their employees. The ordinance was set to go into effect October 1. Read more...
Legal & Regulatory Updates, Human Resources & Payroll
San Antonio Passes Paid Leave Ordinance
8/17/2018
On Thursday, August 16, 2018, by a 9-2 vote, the San Antonio City Council passed an ordinance requiring employers to provide paid sick leave to their employees. San Antonio is following Austin, which passed a very similar ordinance in February of 2018. One difference is that San Antonio’s ordinance will not be effective until August 1, 2019, almost a full year after Austin’s ordinance. Read more...
Legal & Regulatory Updates, Human Resources & Payroll
Update on Austin's New Paid Leave Ordinance: Will it Affect You?
6/29/2018
In February, the Austin City Council passed an ordinance requiring employers to provide paid sick leave to their employees. Any employers whose employees work in Austin are affected, and advocacy groups anticipate similar action taking place in large cities across Texas. Will you be affected? Read more...
Legal & Regulatory Updates, Financial Planning
The Tax Law Has Changed: You Should Review Your Estate Plan
6/13/2018
“In this world nothing can be said to be certain, except death and taxes.” Estate planning involves both of those certainties. The Tax Cuts and Jobs Act has changed the tax law as it relates to estate taxes, with lifetime exemptions doubling. While these changes are set to expire in 2025, families could take advantage of the new tax law in the interim. Read more...
Legal & Regulatory Updates, Employee Benefits & Insurance
2019 HSA Contribution Limits
6/13/2018
The Internal Revenue Service has announced new contribution limits for Health Savings Accounts (HSAs) in 2019. An HSA is a bank account that can be used in conjunction with a high deductible health plan to save pre-tax funds for medical expenses. Both employers and employees can contribute to the account, but the account and all monies contained within are owned by the employee. HSAs can provide a significant way to save for current and future medical expenses free of tax. Read more...
Legal & Regulatory Updates
ICE Director Delivers on Promise of Increased Enforcement
2/16/2018
At a press conference in December, acting US Immigration and Customs Enforcement (ICE) Director Thomas Homan announced that he would like to quadruple worksite enforcement: “I want to see a 400% increase in work site operations. We’re not just talking about arresting the aliens at these work sites, we are also talking about employers who knowingly hire people who are unauthorized to work.” Read more...
Legal & Regulatory Updates
Form I-9 Enforcement Increases in 2018
1/12/2018
On Wednesday, January 10, federal agents raided 7-Eleven stores across the nation. The Department of Homeland Security’s Immigration and Customs Enforcement (ICE) made 21 arrests and served inspection notices at the franchise convenience stores. This action comes after acting ICE Director Thomas Homan’s October announcement that he would increase the amount of time spent on worksite enforcement by four or five times. Read more...
Legal & Regulatory Updates
Tax Cuts and Jobs Act of 2017: What Taxpayers Need to Know
12/29/2017
On December 22, 2017, the President signed the Tax Cuts and Jobs Act of 2017 (the act or TCJA). The legislation makes significant changes to the Internal Revenue Code (IRC), including individual, corporate, and gift and estate taxation. Read more...
Legal & Regulatory Updates
Trump's Executive Order on Healthcare
10/13/2017
Yesterday, President Trump signed an executive order (EO), which he said will “promote healthcare and competition.” The EO is intended to make lower premiums and greater access more widely available. Read more...