The IRS is offering a second chance for employers to give back funds received from improper Employee Retention Credit (“ERC”) claims. What’s more is that the IRS is offering a 15% discount on the amount to be returned, plus a...more
The employee retention tax credit (“ERTC”) has garnered a lot of “buzz” lately – both from the IRS and businesses who have either received the credit or are seeking the credit. The buzz is well deserved, as the IRS has...more
This past November, we outlined selected tax law changes that President-elect Joe Biden has proposed, both in speaking engagements and on his campaign website, some or all of which could be enacted in 2021 or future...more
1/14/2021
/ Biden Administration ,
Bonus Depreciation ,
Business Taxes ,
Capital Gains ,
Corporate Taxes ,
Estate Tax ,
Gift-Tax Exemption ,
GILTI tax ,
Income Taxes ,
Like Kind Exchanges ,
Opportunity Zones ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Planning ,
Tax Rates ,
Tax Reform
With Biden as the projected President-Elect (subject to pending federal litigation and the Electoral College vote), tax planning for late 2020, 2021, and beyond is top of mind for many businesses and individuals....more
11/10/2020
/ Biden Administration ,
Bonus Depreciation ,
Business Taxes ,
Capital Gains ,
Corporate Taxes ,
Estate Tax ,
Gift-Tax Exemption ,
GILTI tax ,
Income Taxes ,
Joe Biden ,
Like Kind Exchanges ,
Opportunity Zones ,
Presidential Elections ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Planning ,
Tax Rates ,
Tax Reform
Friday, March 27th, the President signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act. The CARES Act contains significant tax relief for individuals and businesses. Below are the tax highlights....more
4/1/2020
/ Business Losses ,
CARES Act ,
Charitable Deductions ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Employee Retention ,
Excise Tax ,
Financial Stimulus ,
Income Taxes ,
Net Operating Losses ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
Retirement Funds ,
Small Business ,
Student Loans ,
Tax Credits ,
Tax Deductions ,
Tax Incentives ,
Tax Planning ,
Tax Relief