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Paid leave for employees impacted by COVID-19 in 2021
Some employers can give paid leave to employees impacted by COVID in 2021 and claim a payroll tax credit per the American Rescue Plan Act.
SBA formally withdraws loan necessity questionnaire
Small Business Administration, in light of lawsuit, notifies PPP lenders that loan necessity questionnaire is withdrawn.
Arizona enacts significant individual income tax reductions
The changes reduce the number of brackets, provide for future rate reductions and establish a rate cap for high-earners.
Child Tax Credits
As you may have heard there have been some changes to the Child Tax Credits for the 2021 tax year. In this article, we outline the changes important to you and your family.
IRS extends relief for leave-based donation programs
Notice 2021-42 provides guidance for cash payments from foregone vacation, sick or personal leave made by employers to charities.
Arizona flat tax gets new lease on life
Arizona budget proposals reduce rates, keep the flat tax alive for future years, and provide a rate cap for high earners.
White House releases President’s budget, Treasury Greenbook
Administration issues Presidential priorities and pay-fors. Corporations and wealthy individuals face prospect of increasing tax rates.
Biden Tax Plan targets cryptocurrency compliance to fund IRS
The Treasury just released a report proposing how cryptocurrency compliance will contribute to funding the $80 billion IRS overhaul.
Taxes and timing: The latest on retroactivity
Lingering questions about the timing of President Biden’s potential tax changes, including retroactivity, could soon be answered.
IRS will audit more LLCs claiming self-employment tax exemption
IRS warns taxpayers claiming self-employment tax exemption under IRC section 1402(a)(13) to be mindful of adverse Tax Court precedent.
As income tax rates increase, beware of certain deferral strategies
Tax-deferral techniques—possibly spurred by a potential increase to capital gains rates—must be scrutinized, as evidenced by this IRS memo
The American Families Plan & its impact on the real estate industry
Summary of the American Families Plan and the potential impact that it could have on the real estate industry.
President Biden unveils his American Families Plan
Biden’s plan to grow the middle class, expand economic growth to all Americans and leave the US more competitive funded with tax changes.
SBA announces opening date for restaurant program – April 30, 2021
SBA announces opening date for Restaurant Revitalization Fund – Registration on April 30 at 9 am EDT; applications on May 3 at 12 pm EDT.
IRS issues PPP expense deduction safe harbor for fiscal year taxpayers
IRS safe harbor for fiscal year taxpayers on accounting period in which to deduct PPP expenses provides choices and certainty.