Employers need to react quickly to the new guidance to pay in amounts as if they were incurred on Dec. 31, 2021.
One of the most common issues overlooked by employers relates to the special timing rule in section 3121(v)(2).
Notice 2021-49 provides answers on previously uncertain issues and addresses changes implemented in the American Rescue Plan Act.
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.
IRS warns taxpayers claiming self-employment tax exemption under IRC section 1402(a)(13) to be mindful of adverse Tax Court precedent.
Managing significant tax changes will ensure individuals and businesses are positioned for success for the remainder of 2021 and beyond.
Notice 2021-20 clarifies retroactive changes made to ERTC and PPP interaction and incorporates several previous frequently asked questions.
The Employee Retention Tax Credit was significantly expanded by the federal relief and stimulus package finalized Dec. 27, 2020.
Tax planning opportunities for consideration in light of COVID-19, the resulting economic crisis, and evolving tax laws and regulations.
The final regulations issued by the IRS provide guidance for meal and entertainment deductions under section 274.