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Payroll Taxes › Income Taxes › Tax Credits

Payroll taxes are taxes that are often calculated and remitted based on a percentage of an employee's wages, but they can also include fixed charges. Payroll taxes consist of two types of taxes: 1) taxes that... more +
Payroll taxes are taxes that are often calculated and remitted based on a percentage of an employee's wages, but they can also include fixed charges. Payroll taxes consist of two types of taxes: 1) taxes that are withheld by an employer from an employee's wages and 2) taxes paid by an employer based on the amount of an employee's wages. These taxes may be advanced income tax payments on behalf of an employee. They are also employer and employee payments to a variety of government programs, such as social security, and unemployment/disability insurance. less -
Foley & Lardner LLP

Cos. Should Heed IRS Warnings About Employee Tax Credit

Foley & Lardner LLP on

For most businesses, turning the calendar to 2023 meant putting the pandemic and any of its tax-related effects further in the rearview mirror. One notable exception, however, is the employee retention credit, or ERC,...more

Eversheds Sutherland (US) LLP

Connecticut proposes digital advertising services tax and employee-elective wage compensation tax on employers

Eversheds Sutherland (US) LLP on

On April 14, 2021, the Connecticut General Assembly’s Joint Committee on Finance Revenue and Bonding introduced SB1106. The bill would establish the “Connecticut Equitable Investment Fund,” which would be funded by, among...more

Gould + Ratner LLP

The Latest COVID-19 Stimulus: Highlights of Key Tax Provisions in the American Rescue Plan Act of 2021

Gould + Ratner LLP on

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

Brooks Pierce

Federal Income Tax Changes in the Consolidated Appropriations Act of 2021

Brooks Pierce on

The Consolidated Appropriations Act of 2021, enacted late last year, includes several tax related changes and incentives affecting businesses. Congress overruled guidance from the Internal Revenue Service to provide that...more

Bowditch & Dewey

2020 End of Year Tax Planning for Businesses

Bowditch & Dewey on

As the 2020 year draws to a close, businesses should review the tax-related provisions adopted in the CARES Act and related IRS guidance with their tax advisers: EMPLOYER REFUNDABLE CREDIT AND PAYROLL TAX DEFERRAL: -...more

Troutman Pepper

How to Navigate the After Effects of the U.S. Stimulus Packages

Troutman Pepper on

Your company received stimulus funding, what do you need to know now? Join us for an update on the Paycheck Protection Program and other funding packages as well as a discussion of what you need to know to stay compliant and...more

Farella Braun + Martel LLP

Coronavirus and Federal Payroll Tax Credits: Relief Available for Cannabis Companies

Farella Braun + Martel LLP on

The cannabis industry rarely looks to the federal government for support. Yet the raft of fiscal relief addressing COVID-19 has caused some in the industry to wonder what options, if any, might be available for them. ...more

Maynard Nexsen

Continuing COVID-19 Impacts on Federal Taxation - UPDATED

Maynard Nexsen on

This is an update to an article originally released on March 31, 2020. The updates account for most of the administrative guidance released by the IRS and the descriptions in the JCT’s Bluebook. After some tense...more

Wilson Sonsini Goodrich & Rosati

Tax Relief Under the CARES Act

Wilson Sonsini Goodrich & Rosati on

On March 27, 2020, the President signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a $2 trillion stimulus package thought to be the largest in U.S. history. The CARES Act contains several key...more

Brownstein Hyatt Farber Schreck

The CARES Act: Title II Business Provisions Summary and Analysis

Brownstein Hyatt Farber Schreck on

The CARES Act includes several tax provisions for businesses. Most of these provisions are designed to provide businesses immediate (or near term) liquidity, but one major provision provides incentives to retain employees who...more

Goodwin

Business And Individual Income Tax Provisions Of The Cares Act

Goodwin on

On Friday, March 27, Congress passed, and the President signed, the bipartisan “Coronavirus Aid, Relief, and Economic Security Act” (the “Act”), a $2 trillion economic stimulus plan to provide funding and tax relief to...more

Jackson Walker

The CARES Act: Tax Relief and Incentives

Jackson Walker on

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

Burr & Forman

Key Tax Provisions of the CARES Act

Burr & Forman on

The COVID-19 or Coronavirus has disrupted demand in many industries and is wreaking havoc on budgets and cash flow projections. On March 27, 2020 the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act or Act),...more

Akin Gump Strauss Hauer & Feld LLP

CARES Act Summary – Tax

Akin Gump Strauss Hauer & Feld LLP on

On March 25, 2020, the U.S. Senate released final text of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) (H.R. 748) to provide emergency economic assistance to those affected by the novel coronavirus...more

Akerman LLP

Federal Government Responds To Coronavirus with Tax Measures

Akerman LLP on

The federal government has enacted two tax measures to combat the financial downturn resulting from the coronavirus pandemic. The President signed into law a bill that includes a 100 percent payroll tax credit for certain...more

Bradley Arant Boult Cummings LLP

Update on Federal and State Tax Responses to COVID-19 Pandemic

Bradley Arant Boult Cummings LLP on

On March 13, 2020, President Trump issued an emergency declaration in response to the ongoing Coronavirus Disease 2019 (COVID-19) pandemic. Recognizing the rapidly evolving state of affairs and the harm to individuals and to...more

Skadden, Arps, Slate, Meagher & Flom LLP

New York State Responds to Federal Tax Reform

Skadden, Arps, Slate, Meagher & Flom LLP on

On March 30, 2018, the New York Legislature passed the 2018–2019 Budget Bill (SB. 7509-C/A 9509-C) (Budget Bill), which addresses several provisions of the newly enacted Tax Cuts and Jobs Act (P.L. 115-97) (TCJA) and...more

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