The U.S. Small Business Administration (SBA) expanded eligibility for COVID-19 Economic Injury Disaster Loan (EIDL) funding.in September, 2021. While you may not have qualified or...
U.S. House passes the Build Back Better Act
The U.S. House of Representatives passed a crucial part of President Biden’s agenda by a vote of 220-213 on November 19. The Build Back Better Act (BBBA) includes numerous provisions...
2021 year-end tax planning for individuals
Potential tax law changes and year-end tax planning for individuals As if another year of the COVID-19 pandemic wasn’t enough to produce an unusual landscape for year-end tax planning,...
2021 business year-end tax planning
Businesses must navigate 2021 year-end tax planning with new tax laws potentially on the horizon The end of the tax year is fast approaching for many businesses, but their ability...
Important Employee Retention Credit Changes
Employee Retention Credit Early Termination The employee retention credit will be terminated early and broker reporting of cryptoasset transfers will be required as a result of legislation...
Build Back Better Act proposed tax changes
Debate continues in Congress over proposed tax changes Negotiations continue in Washington, D.C., over the future of President Biden’s agenda and tax law changes may be ahead under the...
Update on Proposed Tax Law Changes
On Sunday, September 12, 2021, the House Ways & Means Committee (the "Committee") released draft legislation as part of Congress' ongoing $3.5 trillion budget reconciliation process....
New ERC guidance; Congress mulls early termination
The IRS has published new guidance on the Employee Retention Credit (ERC). The credit was created in March 2020 to encourage employers to keep their workforces intact during the COVID-19...
Should You Opt Out of Advance Child Tax Credit Payments?
What is the Child Tax Credit? Child tax credit payments, which were set up and expanded under the American Rescue Plan passed earlier this year, amount to $3,000 annually per child ages 6...