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EBS Payroll and Coronavirus-Related Updates for US Legislation
On April 17, 2020, the following one off patches were released to assist EBS US Payroll customers who need to comply with the emergency paid sick and family (and medical) leave measures included in the "Families First Coronavirus Response Act" (FFCRA) and/or those who need to utilize the Employee Retention Credit included in the "Coronavirus Aid, Relief, and Economic Security Act" (CARES Act).
This patch delivered formula changes, balances and other changes to optionally permit customers to pay employees emergency paid sick and family leave wages (due to reasons related to COVID-19) that are not subject to Employer Social Security tax. Another change optionally permits tracking of Employer Medicare tax credit for such wages. Multiple informational payroll balances were also delivered to permit customers to track the wages for various payroll tax-related credits including the aforementioned FFCRA sick and family leave pay as well as the Employee Retention Credit included in the CARES Act.