On March 11th, President Biden signed the American Rescue Plan Act of 2021 (ARPA) into law. While the $1.9 trillion bill is primarily focused on direct relief to individuals, it also contains...
Tax identity theft is a serious issue for the IRS as fraudsters continue to find new ways to steal taxpayers’ Social Security numbers and other personal information to file false tax returns....
Along with other changes, the recent $2.3 trillion Consolidated Appropriations Act (Act) made significant changes to the Employee Retention Credit (ERC) created earlier in 2020 by the CARES Act....
President-elect Joe Biden has publicized various aspects of his tax plan once he takes office in 2021. This article summarizes those proposals as they stood heading into the election and their impact...
As a general rule, gross income includes all compensation and employment benefits unless exclusion is provided by law. Cafeteria plan and certain other fringe benefits are among the items that could...
On August 8, 2020, President Trump issued a memorandum authorizing the deferral of payroll taxes for certain employees from September 1, 2020 through December 31, 2020. On August 28th, the IRS...
On August 8, 2020, President Trump issued a memorandum to the Secretary of the Treasury authorizing the deferral of payroll taxes for certain employees from September 1, 2020 through December 31,...
Article Update: As of June 5, 2020, the president signed the Paycheck Protection Program Flexibility Act into law. On June 4, 2020, the U.S. Senate passed the House version of a bill designed at...
This article was co-authored by Collin Kanelakos, Partner, Assurance Services. So, you’ve submitted your SBA Paycheck Protection Program (PPP) application and you might have even received your loan...
To help individuals stay afloat during this time of economic uncertainty, the government will send up to $1,200 payments to eligible taxpayers and $2,400 for married couples filing joints returns. An...