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...
Build Back Better Act proposed tax changes
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Tax Legislation
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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...
Employee Retention Credit: Are You Missing Out?
The Employee Retention Credit, or ERC, is a significant tax credit enacted in 2020 under the CARES Act to help businesses keep employees on payroll during the COVID-19 pandemic. Since...
The Restaurant Revitalization Fund
Updated 4-6-2021 The American Rescue Plan Act of 2021 (the “Act”), signed by President Biden on March 11, 2021, includes within Section 5003 a $28.6 billion appropriation to establish a...
What’s in the ARPA for individuals?
On March 11, 2021, President Biden signed the American Rescue Plan Act (“the Act”), a $1.9 trillion COVID-19-relief stimulus package. The Act extends the unemployment benefits that were...
New stimulus business and nonprofit benefits
President Biden has signed into law The American Rescue Plan Act 2021 (ARPA), which includes $1.9 trillion in funding for individuals, businesses, and state and local governments. The...
Is your business eligible for the employee retention tax credit?
UPDATED March 15, 2021 to reflect additional guidance and the ARPA Act of 2021 Under the Consolidated Appropriations Act, 2021, the employee retention credit, a provision of the CARES Act,...