Many 2020 Federal Updates Affecting Payroll Process, Speakers Say

The federal government implemented many significant tax and compensation requirements in 2020 with which payroll departments must ensure compliance, payroll educators said June 2.

Measures enacted in response to the coronavirus crisis have resulted in a variety of new tax and compensation provisions, such as the first federally required form of paid sick leave; a new type of paid family leave; three new refundable payroll tax credits; and changes to Form 941, Employer’s Quarterly Federal Tax Return, said Curtis E. Tatum, the American Payroll Association’s director of federal payroll compliance.

These new payroll-related requirements were established by the Families First ...