One of the more tax-troubling issues this year is the distribution of what Congress refers to as the recovery rebates. You may know these payments as the Economic Impact Payments...
An increased child tax credit is part of the March 2021 American Rescue Plan Act stimulus package. Even though the benefit of a tax credit traditionally isn’t available until after...
Unemployment Benefits We've seen numerous changes to unemployment benefits throughout 2020 and 2021. Now, President Biden’s American Rescue Plan that Congress enacted in March of 2021 has extended the additional $300...
(authored by RSM US LLP) Our white papers have been updated with more information regarding the accounting for PPP loans and the Employee Retention Credit....
Article Highlights: • Economic Impact Payments • High-Income Taxpayer Phaseout • Reconciliation • Dependents • Decedents • Social Security Number Requirements • Non-Filers and IRS Information Site • Should I file my tax return now or laterThe American...
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...
(authored by RSM US LLP) Despite receipt of PPP loans, hospitality businesses may be eligible for retroactive 2020 and new 2021 credits....
Authored by the IRS | February 18, 2021Earlier this month, the IRS issued notices to approximately 260,000 taxpayers stating they haven’t filed their 2019 federal tax return. These notices, referred...