News & Analysis as of

Tax Credits Employees

Ballard Spahr LLP

House Tax Bill Would Greatly Accelerate Employee Retention Credit Filing Deadlines

Ballard Spahr LLP on

The current draft of the Tax Relief for American Families and Workers Act of 2024 includes a proposed provision that would dramatically accelerate the deadline to file claims for the Employee Retention Credit (ERC) to January...more

Bond Schoeneck & King PLLC

IRS Launches Voluntary Disclosure Program Allowing Businesses to Avoid Penalties if They Pay Back a Portion of Incorrectly Claimed...

On Dec. 21, 2023, the Internal Revenue Service (IRS) launched a new Voluntary Disclosure Program that allows businesses to pay back only a portion of funds in satisfaction of the full amount of credit that they received based...more

Seyfarth Shaw LLP

The Biden Administration Issued Its Fall 2023 Regulatory Agenda – What Can We Expect From the DOL Wage and Hour Division’s...

Seyfarth Shaw LLP on

Seyfarth Synopsis: On December 6, 2023, the Biden Administration announced the release of its Fall 2023 Unified Agenda of Regulatory and Deregulatory Actions. The U.S. Department of Labor’s Wage and Hour Division continues to...more

Ballard Spahr LLP

FinCEN Issues Alert on COVID-19 Employee Retention Tax Credit Fraud

Ballard Spahr LLP on

On November 22, 2023, the Financial Crimes Enforcement Network (“FinCEN”), in close coordination with the Internal Revenue Service (“IRS”) Criminal Investigation (“CI”), issued an alert (“Alert”) regarding the COVID-19...more

Burns & Levinson LLP

Client Advisory: ERTC Moratorium

Burns & Levinson LLP on

Because of the large number of inappropriate claims for the Employee Retention Tax Credit (ERTC), the IRS has stopped receiving applications for those credits beginning on September 14, 2023. The moratorium will continue at...more

Gray Reed

IRS Chief Counsel Issues GLAMon ERC Supply-Chain Disruption Eligibility

Gray Reed on

Section 2301 of the CARES Act, as amended, permits employers to claim employee retention credits (“ERCs”) if they meet certain requirements. Under one of those requirements, an employer may claim an ERC if the employer’s...more

Faegre Drinker Biddle & Reath LLP

Congressional Leaders Address SECURE 2.0 Act Glitches

The SECURE 2.0 Act made sweeping changes to Internal Revenue Code (Code) and ERISA provisions governing employee benefit plans. In a recent letter to the Department of the Treasury and the Internal Revenue Service, the...more

Steptoe & Johnson PLLC

Qualifying for the Employee Retention Credit and Partial Shutdowns

Steptoe & Johnson PLLC on

IRS Warnings - The IRS continues to issue warnings alerting employers to be wary of promoters aggressively pushing schemes to claim the employee retention credit (the ERC). The IRS has also added these promoter claims to its...more

Sheppard Mullin Richter & Hampton LLP

Inflation Reduction Act: Prevailing Wage and Apprenticeship Requirement FAQs and Key Takeaways from the Initial Guidance from the...

As previously discussed in our blog Inflation Reduction Act: Wage and Apprenticeship Requirements, the Inflation Reduction Act (the “IRA”) restructured the tax credit system associated with qualified clean energy projects...more

Schwabe, Williamson & Wyatt PC

What Else Happened During COVID: A Recap of Non-COVID-Related Employment Law Changes in Oregon Since 2020

In early 2020, most businesses found themselves unexpectedly pivoting their focus to unprecedented operational, workforce, supply chain, and legal changes in response to the COVID-19 pandemic. Businesses have had to...more

Littler

Treasury Department Issues Guidance on the Inflation Reduction Act’s Prevailing Wage and Apprenticeship Requirements

Littler on

On November 30, 2022, the U.S. Treasury Department published in the Federal Register its guidance on the Inflation Reduction Act’s (IRA) new prevailing wage and apprenticeship requirements. Taxpayers seeking to qualify for...more

Verrill

IRS Guidance Expands Access to ACA Premium Tax Credit, Allows Cafeteria Plan Sponsors to Permit Employees to Revoke Family...

Verrill on

Final Regulations under Section 36B of the Internal Revenue Code - On October 11, 2022, the Internal Revenue Service (IRS) issued Final Regulations under Code Section 36B relating to eligibility for the Affordable Care...more

Littler

New Federal Tax Credits Require Compliance with New Prevailing Wage and Apprenticeship Mandates on Clean Energy Construction

Littler on

On August 16, 2022, President Biden signed into law the Inflation Reduction Act (IRA) of 2022. Among many other provisions, the IRA contains a new federal 30% tax credit for private construction, alteration or repair of...more

Dickinson Wright

Tax Credits Available for Employers Granting Paid Leave Related to COVID-19 Vaccinations

Dickinson Wright on

The American Rescue Plan Act of 2021 (ARP) allows certain businesses (generally, employers with fewer than 500 employees and non-federal governmental employers) to claim refundable tax credits as a reimbursement for the cost...more

Saul Ewing LLP

New Tax Credit Available for Certain Employers Who Provide Employees Paid Sick Leave to Get the COVID-19 Vaccine

Saul Ewing LLP on

On April 21, 2021, President Biden announced that new tax credits are available to small businesses under the American Rescue Plan to incentivize vaccinations and to promote employee health around the country....more

Foley Hoag LLP

The American Rescue Plan Act of 2021: Understanding the Key Provisions Impacting Employers

Foley Hoag LLP on

On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 (the “ARPA”) into law. In addition to providing nearly $2 trillion of monetary relief for individuals and business sectors impacted by the...more

McDermott Will & Emery

Connecticut Bill Aims to Address the Impact of Telecommuting during the Pandemic

As we continue to face growing concerns because of the nationwide impact of COVID-19, taxpayers should be mindful of the potential impacts that the continued rise in telecommuting may have on their state personal income tax...more

Buckingham, Doolittle & Burroughs, LLC

Employee Retention Credit Expanded under Consolidated Appropriations Act: Now Available to PPP Loan Recipients and Extended to...

At the end of 2020, Congress passed another round of Covid-19 relief in The Consolidated Appropriations Act, 2021 (CAA). The CAA provides for some key tax-advantaged stimulus measures, such as a second round of PPP loans...more

Butler Snow LLP

The Impact of the New OSHA Guidance on Other Employment Policies and Practices

Butler Snow LLP on

On January 21, 2021, President Biden issued an Executive Order on Protecting Worker Health and Safety directing the Assistant Secretary of Labor for Occupational Safety and Health to issue science-based guidance for employers...more

McDermott Will & Emery

COVID-19 Stimulus Package Significantly Expands CARES Act Employee Retention Tax Credits

McDermott Will & Emery on

The Consolidated Appropriations Act, 2021, which became law on December 27, 2020, makes significant changes to the employee retention tax credits available under the Coronavirus Aid, Relief and Economic Security Act (the...more

Bradley Arant Boult Cummings LLP

How to Provide Employees $26,250 in Nontaxable Student Loan Repayment Assistance

The Taxpayer Certainty and Disaster Tax Relief Act, recently passed as part of the “Consolidated Appropriations Act, 2021,” has significantly extended the tax exclusions for employer-paid student loan repayment assistance...more

Bradley Arant Boult Cummings LLP

Tell Me Again — Do We Have to Give FFCRA Leave in 2021?

2020 is in the rearview mirror. Whew!  Unfortunately, COVID-19 is not gone and certainly not forgotten. The latest hot topic has been what to do with employees who think they should get paid leave for COVID-19 reasons that...more

Brooks Pierce

Mandatory COVID Leave Expires, but Tax Credits for Providing COVID Leave are Extended

Brooks Pierce on

Starting Jan. 1, 2021, employers subject to the Families First Coronavirus Response Act (FFCRA) are no longer required to provide employees with COVID-related paid leave, but they may do so in some situations and still...more

Schwabe, Williamson & Wyatt PC

Congress Makes Additional Paid Family Leave and Paid Sick Leave Optional

The dust has now settled on the new stimulus bill signed by President Trump on December 27, 2020. The changes to the Family First Coronavirus Recovery Act (“FFCRA”) was buried in over 5000 pages of text and provides a choice...more

Pillsbury Winthrop Shaw Pittman LLP

Year-End Stimulus Bill Permits, but Does Not Mandate, Extension of FFCRA Leave

Late on December 27, 2020, President Trump signed into law an omnibus stimulus bill. The new legislation contained much needed extensions of unemployment benefits that have supported many Americans who have experienced...more

29 Results
 / 
View per page
Page: of 2

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide