Regulatory Roundup: April 2020April 30, 2020
Legislative updates from April include an expansion of the Paycheck Protection Program and state and local changes to sick leave and overtime pay.
Businesses continued to navigate the coronavirus pandemic and various state and federal legislative activities in April. As the rate of confirmed cases and hospitalizations increased, employers navigated extended shelter-in-place orders and continued social distancing guidelines that limited operations.
Since mid-March, 26.4 million people had filed for unemployment aid, and millions of businesses applied for a loan through the Paycheck Protection Program within the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The original $349 billion allocated to this program ran out in 13 days after opening on April 3. An additional $310 billion in funding was approved on April 21, as part of a $484 billion bill to expand coronavirus relief. The Small Business Administration is offering an FAQ for Lenders and Borrowers. The IRS also has FAQs and other guidance available for companies filling out Form 7200 to request “Advance Payment of Employer Credits Due to COVID-19.”
Check out this month’s compliance and tax alerts below:
- Dallas, TX Paid Sick Leave: On March 30, 2020, a federal court blocked the City of Dallas from enforcing its paid sick leave ordinance.
- Washington Overtime Updates: Effective July 1, 2020 salary thresholds for overtime exempt employees will begin increasing and will continue to increase annually on January 1st through 2028.
- New York State Paid Sick and Safe Leave Ordinance: On April 3, 2020, the state of New York passed an Ordinance that requires employers to provide sick and safe leave for all New York employees.
You can also check out our Legislative Updates Related to Coronavirus (COVID-19) for a comprehensive summary of legislative changes that could impact your business and how Paylocity has responded with updates to our product to help you stay compliant. For the latest information and resources related to the coronavirus, check our COVID-19 Resources page often.
Be sure to bookmark our resource library and be sure to come back monthly for Regulatory Roundups of tax and compliance alerts you need to know. Don't forget to also follow us on Facebook, LinkedIn, and Twitter for urgent updates.
This information is provided as a courtesy, may change, and is not intended as legal or tax guidance. Employers with questions or concerns outside the scope of a Payroll Service Provider are encouraged to seek the advice of a qualified CPA, Tax Attorney, or Advisor.
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