Small Business Stimulus Plan Client Communication

Your clients may need clarification on President Obama’s small business initiatives and what they mean to their small business. To help you communicate with clients, PCPS is providing this letter with sample wording that practitioners can send or email to small business clients that provides a clear overview of the key aspects of the small business plan and the Recovery Act tax provisions.  Learn More>>

American Recovery and Reinvestment Act of 2009 Client Brochures (Individual Tax Provisions Brochure & Business Tax Provisions Brochure)

PCPS Members Only

Use these brochures to provide your clients a clear overview of the key tax provisions of the new Act.  Learn More>>

Required Employer COBRA Payments
The American Recovery and Reinvestment Act of 2009 provides a subsidy for the cost of COBRA coverage for employees who are involuntary terminated between September 1, 2008, and December 31, 2009. When the assistance eligible individual receives the bill for COBRA coverage, he or she will send the bill and 35% of the premium to the employer who pays the other 65%.  The employer then takes a credit on their quarterly payroll tax return. Learn More>>

NOTE: The Employer must send notice out to former employee informing them that they are eligible for the subsidy. There are some hefty penalties involved if this is not done. The penalty for failure to notify is $110 per day under employee Retirement Income Security Act and $100 per day under the tax code!