Exclusive access period coming to PPP; other changes forthcoming
Biden-Harris administration announces changes to PPP including a 14-day exclusive access period for businesses with fewer than 20 employees.
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Tax considerations for family offices under the Biden administration
Biden’s campaign proposed tax increases that affect family offices, including rate hikes on corporations and wealthy individuals.
Expansion of the Employee Retention Tax Credit
The Consolidated Appropriations Act, 2021 made significant changes to the Employee Retention Tax Credit by extending relief to a greater number of employers and increasing the overall tax benefit. In this video, we will provide an overview of the changes and how they apply for the 2020 and 2021 tax years.
Court holds fuel mixture credit must first offset excise tax liability
Tennessee district court holds credit against fuel excise taxes, reduces excise tax liability and must be deducted from production costs.
Biden outlines next round of fiscal aid
The ambitious plan addresses the public health crisis, pandemic economy damage and the rollout of a national vaccination program.
What You Need To Know About Form 1099-NEC
In 2020, the IRS introduced the Form 1099-NEC for reporting nonemployee compensation. Learn about the form 1099-NEC and how it differs from the form 1099-MISC.
PPP forgiveness and expenses: State tax implications
States may not allow the gross income tax exclusion provided by the federal program, resulting in taxable discharge of indebtedness income.
President Biden’s tax plan
Taxpayers should familiarize with Biden’s plan, remain vigilant for developments and position themselves to act at the appropriate times.
Employee retention tax credit significantly expanded for 2021
The Employee Retention Tax Credit was significantly expanded by the federal relief and stimulus package finalized Dec. 27, 2020.
IRS partially finalizes passthrough interest limitation regulations
Final regulations address self-charged interest and trading partnerships, but reserve on tiered partnerships and other items.
ASC 740: Year-end provision considerations for 2020
A roundup of considerations for companies while preparing income tax provisions for the year-ended Dec. 31, 2020.
PPP reopening for first draw borrowers Jan. 11; second draw Jan. 13
Treasury Department and SBA announce reopening dates for Paycheck Protection Program - Jan. 11, 2021 and Jan. 13, 2021.
SBA releases guidance on PPP continued access program
SBA releases two PPP reopening guidance packages. The first for new borrowers and the second for the second-draw program.
SBA releases guidance on PPP second draw loans
SBA releases two PPP reopening guidance packages. The first for new borrowers and the second for the second draw program.
The Consolidated Appropriations Act, 2021
On December 27, 2020, the President signed the Consolidated Appropriations Act, 2021 into law. In this video, we cover the major provisions of the $900 billion stimulus relief package included in the spending bill.
Retirement plans under the Consolidated Appropriations Act, 2021
The Act does not lengthen CARES Act COVID plan relief, but offers relief for non-COVID disasters, partial terminations and pension plans.