The novel coronavirus (COVID-19) has created the need for products that can help you track various credits and deferral savings.
The Families First Coronavirus Response Act (FFCRA) was signed on March 18, 2020, and went into effect on April 1, 2020. The act provides paid sick and child care leave to employees who cannot work and allows their employers to claim those leave payments as tax credits. The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27, 2020. This act provides a range of benefits to assist employers during these challenging times, including the 50% employee retention credit, the deferral of the payment of employer social security tax, and the Paycheck Protection Program (PPP) administered by the SBA.
We have three goals as it relates to these new laws:
| Help you understand the laws,
| Help you benefit from the provisions, and
| Most importantly, provide you with software that can help you with compliant tracking and reporting!
Our COVID-19 Product Suite is available for free in 2021 to clients who use our payroll product!
THE COVID-19 ANALYTICS DASHBOARD
The COVID-19 Analytics Dashboard provides an overview of the Families First Coronavirus Response Act (FFCRA) and CARES Act tax credits displayed in real-time.
THE NEW VIVENTIUM PPP PAYROLL COST REPORT
This report gives you the employee-level payroll costs
for your covered period that are eligible for forgiveness. It’s used to complete Table 1 and Table 2 of the PPP
Schedule A Worksheet.
THE UNCOLLECTED COVID-19 TAX CREDIT REPORT
This report allows you to see which available tax credits were not applied against your payroll tax deposits so you can populate and fax Form 7200 to the IRS.
Firstly, as a Viventium client, I would like to personally and professionally thank you and the entire Viventium team for all your incredibly hard work throughout the past few months in guiding my organization through the pandemic changes. We received our PPP loan in May thanks, in large part, to the information you were giving on the numerous webinars. Your guidance and advice were and continues to be invaluable.
One Israel Fund
Thank you so very much for the accurate and thorough work your team does and has done over the years. I have worked with Viventium since my parent company d’mai Urban Spa LLC was a client of BDB Payroll. It must be challenging maintaining your level of excellence during the COVID pandemic—but you are!
d'mai Urban Spa
I really appreciated the quick work done by Viventium to get this report prepared in time for SBA filings. Many practices are going to have to depend on SBA as a lifeline.
Raleigh Capitol Ear, Nose, and Throat
The New Form 941: Understanding the COVID-19 Changes to Your Quarterly Return