Payroll – Federal Provisions Coronavirus Roadmap

This roadmap summarizes payroll-related provisions established by the federal government to provide relief to employers and employees in response to the coronavirus outbreak. These provisions were established by the Families First Coronavirus Response Act (FFCRA), the Coronavirus Relief, Aid, and Economic Security (CARES) Act, and numerous elements of implementation guidance issued by the Internal Revenue Service, the broader Treasury Department, and the Small Business Administration.

The seven sections covered in this roadmap are as follows:

1. Paid Leave Requirements
2. Refundable Payroll Tax Credits
3. Form 7200 and IRS Simplification of Credit, Retention Processes
4. Deferral of Employer Social Security Tax
5. Paycheck Protection Program
6. Revised Form 941
7. Student Loan Relief Expansion