Starting Oct 1, Washington workers start seeking exemptions to the new long-term care tax of the state. The tax finances are the so-called “WOTC tax credit,” the program that was passed in the state Legislature in 2019. The program acts as a state insurance plan for long-term care. It is for helping the eligible adults pay for services like dementia support and home-delivered meals.

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Firstly, firms should focus on finding the federal payroll taxes through Missouri payroll tax calculator tools or using the ERC calculator. You can find all the federal withholdings of your staff and other taxes that your firm needs to pay. Let’s go through some important things to withhold federal tax. Know our step-by-step guide with a full explanation of all the below steps.

The Internal Revenue Service (IRS) and the U.S. Treasury Department issued the Notice 2020-65, applying the recent Presidential Memorandum that lets employers payroll tax deferment option (i.e., postpone) withholding and Social Security Tax payment for the paid wages on 1st September 2020 through 31st December 2020.

The employers consider whether they should get an employee’s social security taxes under payroll tax deferment or not. They must know the below key takeaways from the Notice:

The WOTC tax credit is for all Washington workers, and the information is for the state employees with questions about limited exemptions and the program’s premium. The WA Cares fund, or the Washington State fund, is a mandatory new long-term care insurance benefit that firms can use to buy professional care, equipment, house safety evaluations, and compensation for the family members who care. Another name for the Washington State long-term care fund is the Long-Term Services Supports (LTSS) program.