The IRS has provided guidance to employers regarding the recent presidential action to allow employers the deferral of the withholding, deposit and payment of certain payroll tax obligations.

The three-page guidance in Notice 2020-65 was issued to implement President Trump’s executive memorandum signed on August 8.

dollar bills sitting underneath a medical mask; image used for blog post about deferral of employees' social security tax

Private employers still have questions and concerns about whether, and how, to implement the optional deferral. The President’s action only defers the employee’s share of Social Security taxes; it doesn’t forgive them, meaning employees will still have to pay the taxes later unless Congress acts to eliminate the liability. (The payroll services provider for federal employers announced that federal employees will have their taxes deferred.)


Continue Reading Deferral of Your Employees’ Social Security Taxes

Employees or independent contractors? It’s not only for-profit companies that struggle with the question of how to classify workers for federal tax purposes. Not-for-profit organizations must withhold and pay Social Security, Medicare and unemployment taxes for employees, but not for contractors. (There may also be state tax responsibilities.)

a Black woman and American woman pose together, wearing blazers, in front of a white board; image used for blog post about not-for-profits classifying workers for tax purposes

But be careful before you decide that most of your staffers must be contractors. The IRS may not agree.


Continue Reading How to Classify Your NFP’s Workers for Tax Purposes

There was a full house for our first employee benefit plan seminar of the year, “Engaging and Communicating with Your Employees,” on Thursday, February 6, 2020, featuring speaker, Monirah Bacnik, founder and CEO of brand28. Employee engagement is a universal topic companies and organizations want to address and improve, and Bacnik delivered an energetic and colorful presentation.

Bacnik focused on introducing and providing examples of effective communication strategies to engage a multi-generational workforce. She also provided an interactive workbook for attendees to follow along with her presentation, where they can fill in their personal thoughts and goals for employee engagement.


Continue Reading Recap: Employee Engagement and Communication Strategies Seminar