STERLING, VA / ACCESSWIRE / March 20, 2020 / HomeWork Solutions, industry experts in household payroll and employment taxes, have announced an effort to ensure domestic employees get access to paid sick leave and unemployment benefits. This action is in response to enactment of the Families First Coronavirus Response Act, which offers employers a full tax credit for paid sick and family leave, and which provides emergency funding to state unemployment systems. HomeWork Solutions will waive fees for preparation of 2019 payroll tax filings for new clients to expedite employee access to these benefits.
Employees must be paid legally, or "on the books," in order to receive benefits from unemployment insurance or for an employer to be reimbursed for paid leave provided to employees. Employers must navigate a complex set of paperwork and tax filings that most simply find overwhelming. To provide employees the benefits they need and deserve, employers obtain a Federal Employer Identification Number, pay Social Security, Medicare, and Federal unemployment tax, file IRS Form 1040 Schedule H, file W2s with the Social Security Administration, and pay state unemployment tax and other applicable state or local taxes.
HomeWork Solutions has volunteered to help eliminate the burden of tax filing to encourage families to ensure employees get access to benefits. "We want to lessen the impact the coronavirus pandemic will have on those workers who care for our families every day," says Jay Schulze, President of HomeWork Solutions. "By encouraging employers to quickly catch up on their ‘NannyTax' obligations, we ensure caregivers across the country will have the income they need to get by if their hours are reduced or eliminated. Families can rest assured that they can continue to provide paid sick and family leave to their nannies, housekeepers, senior caregivers, and other domestic employees, with the knowledge they will receive a tax credit for those wages paid."
A 2017 study by the International Nanny Association of employer compliance with federal and state tax regulations found a compliance rate of only 5.3 percent. "For nearly 30 years we have been working to raise awareness of this tax gap and fighting to get employees access to the benefits they deserve like Social Security and Medicare, unemployment insurance, workers compensation insurance, and the ability verify their income to build credit," offered Kathleen Webb, Co-Founder of HomeWork Solutions. "Now more than ever, employees need to be cared for in recognition of the care they provide to families like my own."
Those interested in HomeWork Solutions' offer for free preparation of 2019 payroll tax filings should call the company at 866.959.7812 or enroll online at HomeWorkSolutions.com and mention "Free 2019" during registration. Continued use of payroll and tax preparation services for 1 year is required to qualify for this offer. Discounted service is offered for those simply in need of tax filings for a prior year.
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HomeWork Solutions, Inc. has provided payroll and tax preparation services to families nationwide since 1993. As experts providing services to tens of thousands of families, the staff at HomeWork Solutions has been a trusted resource for household employers, as well aspublications such as the Wall Street Journal, New York Times, Fox, The Washington Post, and many more. Homework Solutions provides free consultations to families, CPAs, and other financial professionals at 866.959.7812 or online at HomeWorkSolutions.com.
HomeWork Solutions is a founding member of the recently launched Fair & Legal Pay (https://fairandlegalpay.com/), a coalition of domestic worker advocates comprised of industry non-profit organizations, for-profit companies and individuals seeking to increase access to fair and legal pay for household employees through education and awareness. The company is also a long-time supporter of employees through organizations such as the International Nanny Association and the US Nanny Association.
More information about Household employer tax obligations can be found in IRS Publication 926- Household Employer's Tax Guide.
SOURCE: HomeWork Solutions Inc.