NEW TAX CREDITS FOR 2020
OKLAHOMA NON-ESSENTIAL 21 DAY BUSINESS SHUT DOWN 3/24/2020
In general, my clients will qualify for this tax credit, for those employees paid during the business closure.
100% of the employees daily compensation, not to exceed to $200 per employee, for a maximum of $10,000 per employee.
You must get with JJ before you pay the next payroll to get the credit determined, because the credit is given ONLY as reduction in the payroll tax that is paid to the IRS. You must know the credit, to tell your payroll company the amount of credit, so they pull LESS money from your account net of the tax credit.
WITH THE RECENT NATIONAL CRISIS,
3 NEW TAX CREDITS HAVE BEEN INTRODUCED
THAT CAN BE EXPERIENCED IMMEDIATELY