The Stimulus Bill is very much on the mind of payroll software programers these days. There are new tax tables to create in a fairly short space of time and then there is the COBRA benefit reduction. This benefit pays an involuntary terminated employee 65% of their COBRA premium up to nine months. The employer pays the remaining amount and receives a tax credit for a like amount on their quarterly payroll tax form – Form 941. It promises to create some interesting times in our world of payroll.
Any time we rush to create legislation like this, we will inevitably create holes for all us to pitch into unexpectedly. There will be people trying to take advantage of the loopholes, legal or otherwise. There will be cries of foul and unfair. There will be mistakes – many mistakes – that will cause financial reparations. And yet, it is the way of our world. We can complain or we can work to do the best with what we have.
My main hope is that this Stimulus Program accomplishes its main objectives.
Bryan
