Colorado employers affected by COVID-19 may receive relief from unemployment tax increases and delinquency penalties under emergency rules adopted by the Colorado Department of Labor and Employment.
Under the guidance, adopted March 20, employers are not to be charged for unemployment benefit claims related to the virus. Benefit charges generally are included in the calculation of an employer’s tax rate, so preventing a rise in benefit costs may help employers avoid a higher tax rate in future years.
Additionally, the Department may waive penalties and interest for employers that are unable to meet unemployment tax report and payment deadlines because of the virus, the guidance said.
Our office will be monitoring these situations closely and will send out additional announcements or make postings on our website (https://thomas-and-company.com/covid-19/) as we become aware of new developments.