Payroll & Bookkeeping

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CARES ACT – Employer Social Security Tax Deposits Deferral

By |2020-07-13T15:15:05+00:00July 13th, 2020|Corporate & Partnership Tax, News & Events, Payroll & Bookkeeping, Press Releases|

The CARES Act allows for the deferral of the employer’s social security tax deposits from 3/27/20 through the end of 2020.  The deferred amounts must be deposited over the next two years, half of the deferred amount by 12/31/21, and the other half by 12/31/22.  Originally, the CARES Act prohibited PPP recipients from exercising this [...]

What’s Next for the Paycheck Protection Program Loan Recipients?

By |2020-05-12T16:43:19+00:00April 15th, 2020|Corporate & Partnership Tax, News & Events, Payroll & Bookkeeping, Press Releases|

Now that many of you have either already or are waiting on your Paycheck Protection Program (PPP) loan disbursements, we though that it would be helpful to provide you with guidance on the how and how much of that loan can be forgiven. EDITOR's NOTE from May 12, 2020: Several updates and information can [...]

Paycheck Protection Program FAQs

By |2020-04-07T14:42:38+00:00April 7th, 2020|Corporate & Partnership Tax, News & Events, Payroll & Bookkeeping, Press Releases|

The SBA and the US Treasury issued a Frequently Asked Questions document yesterday. Paycheck Protection Program Frequently Asked Questions April 6 2020  This is helpful as many companies and business owners are having trouble filling out the application.  There is also some disagreement among the banks as to what is allowed or not allowed. [...]

JMF Office and Recent Legislative Updates

By |2020-03-25T23:20:18+00:00March 25th, 2020|Accounting & Auditing, Construction, Corporate & Partnership Tax, Creative, Design, Entrepreneurs, Estate & Trust, Financial Institutions, Fraud, Health Care, Hospitality, Individual Tax, Internal Control Evaluation, International, Manufacturing, News & Events, Nonprofit, Oil & Gas, Payroll & Bookkeeping, Pension Admin & Consulting, Press Releases, SALT, Social Security, Technology, Timber|

Dear JMF Clients and Friends: As we mentioned in our communication on March 14th, we are in unprecedented times. We wanted to share another update of what JMF is continuing to do to serve our clients while maintaining a safe work environment.  This remains a fluid situation and we will continue to communicate with you. [...]

Families First Coronavirus Response Act

By |2020-04-08T14:02:55+00:00March 23rd, 2020|Corporate & Partnership Tax, News & Events, Payroll & Bookkeeping|

After a couple of technical corrections by the House, the Senate passed and the President signed into law the Families First Coronavirus Response Act on March 18 (House Bill 6201).  The primary component for employers and employees to understand is the expansion of the FMLA provision and for increased paid sick leave.  The bill [...]

Be Sure About Estimated Tax Payments

By |2017-05-16T15:03:38+00:00May 16th, 2017|Entrepreneurs, Individual Tax, News & Events, Payroll & Bookkeeping|

Even though you just put your 2016 tax return to bed, you cannot rest easy. It is already time to pay attention to your tax liability for 2017. Significantly, you may be required to pay installments of “estimated tax” for this year, especially if you are self-employed or retired. The next due date for quarterly [...]

ATTN There is a new I-9 Form That Must be Used by Employers

By |2020-02-18T17:06:06+00:00March 1st, 2017|News & Events, Payroll & Bookkeeping, Press Releases|

Employers are reminded that on November 14, 2016, the U.S. Citizenship and Immigration Services (USCIS) released an updated version of Form I-9, Employment Eligibility Verification. Employers were required to begin use of the revised Form I-9 on January 22, 2017. Employers that fail to use Form I-9 (rev. 11/14/2016) on or after January 22, [...]

Heads Up Latest Form W2 Scam Targetting Payroll & HR Departments

By |2017-05-18T22:55:00+00:00January 27th, 2017|News & Events, Payroll & Bookkeeping|

The IRS has renewed its warning about an email scam that targets payroll and human resources departments. The scam involves a spoofing email in which a company's CEO apparently requests a list of employees and information including social security numbers or copies of their Form W-2.   The scam, which first appeared last year, is [...]