Covid-19

IRS makes statements on CARES Act Employee Retention Tax Credit risks

IRS makes statements on CARES Act Employee Retention Tax Credit risks

On Oct. 19, 2022 the IRS issued a news release warning employers to be wary of third parties who have ramped up campaigns to try and get ...
Being deemed essential doesn’t preclude ERTC eligibility

Being deemed essential doesn’t preclude ERTC eligibility

Construction firms forced to reduce or cancel operations by jurisdictional order may meet employee retention credit eligibility requirements
IRS enhances employee retention credit guidance for open questions

IRS enhances employee retention credit guidance for open questions

Notice 2021-49 provides answers on previously uncertain issues and addresses changes implemented in the American Rescue Plan Act.
Paid leave for employees impacted by COVID-19 in 2021

Paid leave for employees impacted by COVID-19 in 2021

The American Rescue Plan Act of 2021 (Act) enacted in March contained many tax provisions, including a payroll tax credit for COVID-related paid ...
IRS issues PPP expense deduction safe harbor for fiscal year taxpayers

IRS issues PPP expense deduction safe harbor for fiscal year taxpayers

IRS safe harbor for fiscal year taxpayers on accounting period in which to deduct PPP expenses provides choices and certainty.

Tax aspects of President Biden’s American Jobs Plan

Washington National Tax summarizes key tax aspects of President Biden's American Jobs Plan and the Made in America Tax Plan.

Employee Retention Credit Answers to frequently asked questions

The Employee Retention Credit provides liquidity benefits for many businesses and was significantly expanded for 2020 and 2021.

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.

Employee retention tax credit significantly expanded for 2021

The Employee Retention Tax Credit was significantly expanded by the federal relief and stimulus package finalized Dec. 27, 2020.
PPP reopening for first draw borrowers Jan. 11; second draw Jan. 13

PPP reopening for first draw borrowers Jan. 11; second draw Jan. 13

Treasury Department and SBA announce reopening dates for Paycheck Protection Program - Jan. 11, 2021 and Jan. 13, 2021.

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