The IRS has delayed the deadlines by which employers must furnish 2020 Forms 1095-C and 1095-B in early 2021. For 2020, the furnishing deadline was Feb. 1, 2021, Since Jan. 31, 2021, is a Sunday. The IRS has provided an additional 30 days for furnishing the 2020 Form 1095-B and Form 1095-C, extending the due date from Feb. 1, 2021, to March 2, 2021. The deadline for filing with the IRS under Sections 6055 and 6056 remains March 1, 2021 (since Feb. 28, 2021, is a Sunday), or M

The Small Business Administration announced a simplified Payroll Protection Program (PPP) forgiveness application this week for all loans of $50,000 or less. SBA also eased the burden on PPP lenders, allowing lenders to process forgiveness applications more swiftly. Click here to view the simpler loan forgiveness application. Click here to view the instructions for completing the simpler loan forgiveness application. Click here to view the Interim Final Rule on the simpler fo

On Sept. 24, 2020, President Donald Trump introduced his plan for affordable, high-quality health care, called the America First Health Care Plan. This plan, issued in an executive order, is primarily aimed at protecting people with preexisting conditions and combating surprise medical billing. The executive order directs the Departments of Health and Human Services (HHS), Labor and the Treasury to maintain and build upon existing actions to: Expand options for affordable hea

DEFERRED TAXES MUST BE RECOUPED BETWEEN JAN. 1, AND APR. 30, 2021 On Aug. 8, 2020, President Donald Trump ordered the U.S. Department of Treasury (the Department) to defer collecting certain payroll taxes from wages earned between Sept. 1 and Dec. 31, 2020. On Aug. 28, 2020, the Internal Revenue Service (IRS) issued Notice 2020-65 (the Notice) to provide guidance for affected employers. Employer participation in these deferrals is permitted, but not required. Eligibility for

The Small Business Administration has issued new guidance in the form of FAQs that address some issues related to PPP loan forgiveness. You can view the guidance here or download a copy via the link below. For additional information, contact Thrive PEO - Oklahoma's best Professional Employer Organization at: thrive@thrivepeo.com or (918) 794-2200. #thrivepeo #tulsapeo #oklahomapeo