States may not allow the gross income tax exclusion provided by the federal program, resulting in taxable discharge of indebtedness income.
What are the proposed tax changes affecting individual taxpayers and what should you consider today to limit your exposure to these changes?
Rev. Proc. 2021-33 allows exclusion of PPP, restaurant revitalization and shuttered venue operator grants from ERTC gross receipts test.
The American Rescue Plan Act of 2021 (Act) enacted in March contained many tax provisions, including a payroll tax credit for COVID-related paid leave provided to employees in 2021.