How to Calculate and Claim ERC
The Employee Retention Credit (ERC) was introduced in March 2020 as part of the CARES Act. The ERC is a refundable payroll tax credit against employee wages designed to make...
11 March, 2021
Consolidated Appropriations Act Tag
Hospitality industry may find relief in new ERC expansions
(authored by RSM US LLP) Despite receipt of PPP loans, hospitality businesses may be eligible for retroactive 2020 and new 2021 credits....
04 March, 2021
Enhanced Charitable Deductions Extended for Individuals Through 2021
(authored by RSM US LLP) Stimulus legislation extends through 2021 the 100% of AGI deduction for itemizers and availability of a deduction for non-itemizers....
24 February, 2021
New IRS Guidance on Health FSAs and Dependent Care Assistance Programs
(authored by RSM US LLP) Employers can add flexibility to their health flexible spending accounts and dependent care assistance programs per Notice 2021-15....
22 February, 2021
Dec. 2020 Changes to Paycheck Protection Program
Paycheck Protection Program – December 2020 Changes The Consolidated Appropriations Act changes the PPP Loan Program primarily in three ways.First, the Act allows new PPP loan applications to be submitted...
06 January, 2021
New Stimulus Bill and PPP Updates
On Dec. 22, 2020, Congress passed the latest COVID-19 Relief Bill. This is the largest bill ever passed by Congress at over 5,500 pages. It contains over $900 billion of...
22 December, 2020
Congress Passes Appropriations Bill, Containing COVID-19 Relief Bill
(authored by RSM US LLP) Last minute negotiations pave way for Congress to pass second major COVID-19 stimulus package with tax law changes and tax extenders....
22 December, 2020
Congress passes law containing PPP tax fix; second-draw program
(authored by RSM US LLP) After negotiations go to the 11th hour, Congress passes tax fix for PPP, changes to loan forgiveness and establishes second-draw program....
21 December, 2020