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Use Our Online Tool to Better Understand Government Funding Programs
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Access vital funding to help your business remain open, continue paying your employees, and recover from unplanned circumstances due to the COVID-19 pandemic.

Paychex has created an easy-to-use online tool that details the specific federal relief programs and refundable credits available through the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief, and Economic Security Act (CARES). The tool includes helpful links to applications and a comparison chart of loan programs (Paycheck Protection Program and the Economic Injury Disaster Loan program) to help you address what would best meet the needs of your current circumstances.

Access the Tool

We recommend discussing these options with your accountant or trusted advisor to determine the best course of action to leverage the incentives available.

Paychex is actively working to help make the PPP loan application process simpler. If you’re a Paychex client, we’re creating a report and ensuring it reflects changes introduced April 2 by the federal government. To utilize the report, your business or your clients’ business must have run payroll with Paychex in 2019.

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Prevent Payroll Errors: Stay in Line with Current Laws

Payroll
Article
08/12/2013

Payroll processing can often become burdensome for a business owner because local, state, and federal tax regulations change regularly – and often with little notice. Failure to keep up and comply with the most recent payroll tax laws could result in fines and penalties for your business.

Businesses that process payroll internally should follow the latest legislation to ensure compliance and confirm the amount of taxes they are paying is accurate. The IRS Publication 15 (Circular E) is designed as a handbook for employers to understand current tax laws. We encourage you to bookmark the equivalent guide for your state or local jurisdiction.

Calculation Reminders

There are other rules to follow based on what applies to your business. Generally, smaller businesses can't justify the expense of a full-time employee dedicated to payroll issues. If this is the case, you'll have to spend extra time educating yourself on payroll requirements to assure compliance. If you're paying a mileage expense for employees based on the IRS guidelines, verify the correct amount with the IRS. Make sure to spend time verifying that the forms you're filing for all payroll and tax purposes are the most recent version. If you are using an outdated version, it may get rejected and delay processing time. While national laws certainly get more attention, set up a news email alert for state-related requirements. Many states are taking a bigger role in issues surrounding wage deductions and payroll.

Managing Payroll

One way to save the time and headache of determining accuracy is to consider hiring a payroll service. Many of these operations are "full service," meaning that they manage employee payroll, cut checks, and submit the tax payments and returns. For a busy employer without the background in accounting, payroll, and income tax, this can reduce stress and valuable time spent on non-revenue related activities.

This website contains articles posted for informational and educational value. Paychex is not responsible for information contained within any of these materials. Any opinions expressed within materials are not necessarily the opinion of, or supported by, Paychex. The information in these materials should not be considered legal or accounting advice, and it should not substitute for legal, accounting, and other professional advice where the facts and circumstances warrant.