As the 2024 general election draws near, one of the central issues capturing the attention of voters and lawmakers alike is the future of tax policy. With the two presidential candidates offering a range of proposals and...more
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of April 8, 2024 – April 12, 2024. April 8, 2024: The IRS released Internal Revenue Bulletin 2024-15,...more
In November 2023, the Colorado Department of Revenue’s (CDOR) Taxation Division issued guidance containing mandatory language to be included in notices provided to employees regarding available federal and state income tax...more
In addition to issuing annual statements showing the total compensation paid and income tax withheld for the preceding calendar year, Colorado employers are now required to notify employees in writing of the availability of...more
Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of October 31, 2022 – November 4, 2022....more
Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of April 26, 2021 – April 30, 2021... April 26, 2021: The IRS issued Revenue Procedure 2021-23,...more
The American Rescue Plan Act of 2021 (ARPA, 2021) was signed by President Biden on March 11, 2021 to address the continuing economic impact on employers and employees the coronavirus (COVID-19) pandemic has posed. The ARPA...more
President Biden signed the American Rescue Plan Act of 2021 (ARPA), an approximately $1.9 trillion COVID-19 relief, funding and tax bill that includes $1,400 direct payments to individuals, an extension of the $300 federal...more
Update: President Biden signed The American Rescue Plan Act on March 11, 2021- On Wednesday afternoon, Congress passed The American Rescue Plan Act of 2021, a broad, comprehensive policy response to the challenges brought...more
In Washington: The House on Wednesday passed a sweeping $1.9 trillion COVID-19 relief package in a 220-211 vote. No Republican lawmakers backed the legislation. Just one Democrat, Rep. Jared Golden (ME), opposed it. The White...more
The results of the 2020 elections are final and official. The 117th Congress is underway and Joe Biden and Kamala Harris will be inaugurated on January 20, 2021. Democrats narrowly control both chambers of Congress and a...more
Democrats and Republicans launch negotiations, each envisioning a broad-scale extension of previous efforts to stem the economic damage from COVID-19. Senate Republicans and House Democrats have both put forth proposals...more
The Internal Revenue Service has revived Form 1099-NEC to eliminate confusion about complying with new filing deadlines aimed at combatting fraud. ...more
Last week, Congress delivered a holiday gift to the country in the form of a permanent extenders package. The Protecting Americans from Tax Hikes Act of 2015 ("PATH Act") passed in the House of Representatives yesterday and...more
It looks like Congress will be delivering an early Christmas present. in the form of permanent extenders package. The Protecting Americans from Tax Hikes Act of 2015 (“PATH Act”) is expected to be approved by Congress this...more
Following up on one of the Administration’s legislative proposals to address Puerto Rico’s fiscal crisis, on October 22, 2015, Senator Robert Menendez introduced a bill “The Earned Income Tax Credit and Child Tax Credit...more