Regulatory Roundup July 2020August 01, 2020
Legislative updates from July include guidance from the IRS on emergency, sick, or family leave benefits and new initiatives in Pennsylvania and Idaho.
As the country continues to manage the impact of the coronavirus pandemic, new efforts for clarity and relief have been made on both a federal and state level.
With an influx of employers adjusting their benefits structure in 2020 to accommodate emergency, sick, or family leave time in the wake of COVID-19, many HR professionals were seeking guidance on how to report this at the close of the year. The IRS just released instructions to report these amounts as wages on the form W-2 under the Families First Coronavirus Response.
On a state-by-state basis, Pennsylvania and Idaho both launched coronavirus relief initiatives in July. The Pennsylvania Department of Community and Economic Development (DCED) pay grant, aimed at front-line employees, will be given to up to 500 eligible full-time employees per business location.
Idaho’s bonus, Executive Order No. 2020-12, includes both full- and part-time employees who were receiving unemployment insurance benefits due to COVID-19 and then returned to work.
Here is a full list of this month’s compliance and tax alerts:
- Pennsylvania announces hazard pay grant for front-line workers
- Idaho Governor approves return-to-work bonuses
- New guidance from IRS on reporting emergency sick time
- Employers with more than $7 million in payroll expenses subject to tax in Seattle
- New payroll tax in Portland helps people at risk of homelessness
- Eugene, OR passes payroll tax to assist in community and safety initiatives
Federal Forms & Filings
Affordable Care Act
Visit our Return to Work page to browse our resources to help you engage, rehire, and recruit in this new environment. You can also check out our Legislative Updates Related to Coronavirus (COVID-19) for a comprehensive summary of legislative changes 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.
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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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