HCM Insights September 2020

HCM Insights September 2020

Holiday Reminder

The upcoming Columbus Day Holiday falls on Monday, October 12, 2020.  While CBIZ HCM offices will be open this day, this is a Federal Reserve Bank Holiday, and payroll draft dates will need to be adjusted. 

Important Payroll Deadlines

Check Date Check Processing Date
Tuesday, October 13, 2020 Thursday, October 8, 2020
Wednesday, October 14, 2020       Friday, October 9, 2020

As always, your CBIZ HCM team is here to help should you have questions. We appreciate your continued partnership, and we wish you and your business the best of health. Please contact your payroll services team if you have any questions.


Hurricane Preparedness


The 2020 hurricane season has been a busy one, and as of mid-September, the National Hurricane Center exhausted all 21 pre-selected storm names. Future storms will be named using the Greek alphabet. The Greek alphabet was also used during the 2005 hurricane season, the same season that Hurricane Katrina devastated New Orleans.

Given that Hurricanes are among the most destructive natural disasters, planning for this potentially devastating event is crucial. Our Hurricane Preparedness Checklist can help! The checklist covers considerations for:

  • Impact Awareness
  • Risk Mitigation
  • Damage Control
  • Communication
  • Emergency Supplies
  • Insurance

If your business is in the path of a hurricane, this checklist provides guidance on actions you should take to protect employees, customers, and your business. Download today!



COVID Tax Tips

The IRSTax Tip is reminding taxpayers affected by COVID-19 to review their withholding status, particularly households receiving unemployment during this period.

Many taxpayers have experienced significant changes in their household income and could find the IRS Tax Withholding Estimator useful in reviewing their current tax withholding. The IRS Tax Withholding Estimator can help taxpayers determine how to have the right amount of tax withheld. It offers workers, retirees, and self-employed individuals a user-friendly, step-by-step method to help determine if they need to adjust their withholding by submitting a new Form W-4 to their employer or making additional or estimated tax payments.

Income tax withholding is generally based on the taxpayer's expected filing status and standard deduction. Adjusting paycheck withholding could help prevent penalties for underpayment or result in a decrease in withholding. 

According to the IRS, taxpayers should review their withholding early in the year, when the tax law changes, or when the taxpayer has experienced a life change

Life Changes

  • Life Change Lifestyle - Marriage, divorce, birth or adoption of a child, home purchase, retirement, filing chapter 11 bankruptcy
  • Wage income - You or your spouse start or stop working or start or stop a second job
  • Taxable income not subject to withholding - Interest income, dividends, capital gains, self-employment income, IRA (including certain Roth IRA) distributions 
  • Adjustments to income - IRA deduction, student loan interest deduction, alimony expense 
  • Itemized deductions or tax credits - Medical expenses, taxes, interest expense, gifts to charity, dependent care expenses, education credit, child tax credit, earned income credit 

Significant Decline in Gross Receipts

Income taxes are pay-as-you-go. By law, taxpayers are required to pay most of their tax as income is received. This can be done through paycheck withholding or making quarterly estimated tax payments for income not subject to withholding.



Engaging A Remote Workforce

Remote Worker

The COVID-19 pandemic has caused unprecedented changes for many, if not all, industries. As social distancing is encouraged and with stay-at-home or shelter-in-place orders issued, many employees are working from home. Even as restrictions lighten, many will continue to work remotely in this new normal.

For some employees, working from home is business as usual. For others, this may be the first time they’ve telecommuted. This working arrangement may seem exciting at first, but it can lose its luster over time, resulting in disengaged employees. And, when employees aren’t engaged, their productivity and motivation can suffer. Leveraging technology to assist in daily communication can help managers and teams stay in contact and productive during the pandemic.




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The information contained in this HCM Insights is not intended to be legal, accounting, or other professional advice, nor are these comments directed to specific situations. This information is provided as general guidance and may be affected by changes in law or regulation. This information is not intended to replace or substitute for accounting or other professional advice. You must consult your own attorney or tax advisor for assistance in specific situations. This information is provided as-is, with no warranties of any kind. CBIZ shall not be liable for any damages whatsoever in connection with its use and assumes no obligation to inform the reader of any changes in laws or other factors that could affect the information contained herein.