Employment tax returns have been hammered by a flood of Congressional pandemic relief over and over again. Dripping with change after change, how do we push through and go on? This course will wash your employment tax clean.
First, it was the deferral of employer OASDI until 2021 and 2022. Next, sick pay and family leave were granted to employees under FFCRA, offset by all federal employment taxes (ET). Then, PPP blitzed America with an intricate employment tax interplay. Then, the president allowed the deferral of employee OASDI. Next, the employee retention credit (ERC) burst on the scene to retroactively co-exist alongside PPP loans and forgiveness—but not on the same wages. Finally, Congress changed the ERC/ET interplay prospectively. After all of that, the IRS weighed in (well, sort of).
How do all of the above compete for the same wages and soak against the other? Do you jump for joy over payroll tax credits? You will when you see how much money they can save you.
Bradley Burnett is a practicing Colorado attorney with 33 years of experience working specifically on tax issues. His practice specializes in tax planning and tax controversy resolution. Mr. Burnett has authored and delivered more than 3,000 presentations on U.S. tax law in the U.S. and international jurisdictions.