Will proposed corporate, international tax changes survive Congress?
President Biden’s proposed changes to corporate and international taxes face Congressional obstacles. RSM examines what’s ahead.
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Tax aspects of President Biden’s American Job’s Plan
Washington National Tax summarizes key tax aspects of President Biden’s American Jobs Plan and the Made in America Tax Plan.
The IRS provides further guidance on the Employee Retention Tax Credit
The Relief Act made changes on how the Employee Retention Tax Credit works during the first two quarters of 2021.
Pitfalls and opportunities in distressed real estate investing
Investors need to slow down enough to get their arms around the potential tax ramifications of any real estate acquisition.
IRS expands filing and payment deadline extension
This Alert describes and explains the postponement of certain federal tax filing and payment deadlines in IRS Notice 2021-21.
Senate passes extension of Paycheck Protection Program to May 31
PPP extension clears Senate. Program to be extended to May 31, with 30 days provided after May 31 for SBA to process pending applications.
9 important tax topics for individuals and business owners in 2021
Managing significant tax changes will ensure individuals and businesses are positioned for success for the remainder of 2021 and beyond.
What we know about the Restaurant Revitalization Fund
American Rescue Plan Act of 2021 creates $28.6 billion grant program for restaurants and other food or beverage service companies.
2021 Gifts – Buyer beware of the risk of retroactivity
From retroactivity to loss of planning techniques, this year we face a unique set of concerns when considering gift and estate planning.
Guidance issued for employers claiming the Employee Retention Credit
Notice 2021-20 clarifies retroactive changes made to ERTC and PPP interaction and incorporates several previous frequently asked questions.
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.
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.
Approaching audits proactively saves substantial cash in the long run
The best way to handle a state or local tax controversy is to build a strong foundation of pre-controversy preparation.
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.
What plan sponsors need to do now for the SECURE and CARES Acts
Plan sponsor actions to incorporate the provisions of the SECURE and CARES Acts into their plan documents and plan administration.
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.