Public Announcements

Georgia

Effective 1-1-21, creditor garnishments will continue for 1,095 days (currently 179 days). The maximum amount that can be garnished for private student loan debts will be 15% of the employee’s weekly disposable income. The employer is required to comply with the 15% maximum, rather than the usual 25% maximum for other creditor garnishments, only if the summons of garnishment or court order in the pending garnishment conspicuously states that it is based on private student loan debt.

Georiga extends tax filing deadline to July 15thGeoriga extends tax filing deadline to July 15th

COVID-19

IRS Releases Revised 941-X

Presidential Memorandums on Deferring Employee Social Security Tax and Student Loan Relief Extension

IRS Releases Revised Form 941 for COVID-19 Related Tax Relief

The U.S. Department of Education (ED) has announced relief for student loan borrowers in light of the COVID-19 national emergency [News Release, 3-25-20].

On March 16, the Georgia Department of Labor (GDOL) announced new requirements for employers filing partial unemployment claims.

IRS Coronavirus Tax Relief

Tax Day now July 15th

Coronavirus-related paid leave for workers and tax credits for small and midsize businesses 

American Payroll Association's Hot Topic COVID-19 page


2020 IRS LIMIT ANNOUNCEMENTS:

SOCIAL SECURITY LIMIT: $137,700
401K MAXIMUM: $19,500 - Total Comp = $285,000
401K CATCH-UP: $6,500 for a total of $26,000
BUSINESS MILEAGE: 57.5 cents
MOVING/MEDICAL: 17 cents
CHARITABLE: 14 cents

HEALTH SAVINGS ACCOUNT: $3,550 FOR INDIVIDUAL AND $7,100 FOR FAMILY
HEALTH SAVINGS ACCOUNT CATCH-UP: $1,000
HEALTH CARE FLEXIBLE SPENDING ACCOUNT LIMIT: $2,750
DEPENDENT CARE FLEXIBLE SPENDING ACCOUNT LIMIT:$5,000 FOR MARRIED JOINT RETURNS AND $2,500 FOR MARRIED FILING SEPARATE RETURNS

TRANSIT PASSES: $270 PER MONTH
TRANSIT PARKING: $270 PER MONTH

ADOPTION ASSISTANCE: $14,300

 

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