The 2024 election year promises to make taxes front-of-mind for many business and individual taxpayers. Beyond the election, there are other note-worthy developments, along with several highly anticipated tax law cases that...more
2/16/2024
/ Child Tax Credit ,
Employee Retention ,
Enforcement Actions ,
Green Energy ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
OECD ,
SCOTUS ,
Tax Code ,
Tax Credits ,
Tax Cuts and Jobs Act
After seemingly bouncing back from the challenges posed by the COVID-19 pandemic and related labor, supply chain, and governmental mandate issues, the hospitality industry experienced a year of volatility in 2023, with...more
2/16/2024
/ Artificial Intelligence ,
Corporate Transparency Act ,
Debt ,
Employee Definition ,
Employee Retention ,
FinCEN ,
Hospitality Industry ,
Insurance Industry ,
Liability ,
Minimum Wage ,
NLRB ,
Popular ,
Ransomware ,
Real Estate Market ,
Reporting Requirements ,
Restaurant Industry ,
Supply Chain ,
Tax Credits ,
Tipped Employees
The Employee Retention Tax Credit (“ERTC”) has been expanded and extended further, providing relief to small and large employers affected by COVID-19 business disruptions. As we approach the one-year anniversary of its...more
3/15/2021
/ Aggregation Rules ,
American Rescue Plan Act of 2021 ,
Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Employee Retention ,
Gross Receipts ,
IRS ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
Tax Credits
At $1.9 trillion, the American Rescue Plan Act of 2021, signed into law by President Biden on March 11, 2021, is the largest aid package passed by Congress since the start of the pandemic. With the Rescue Act, Congress hopes...more
3/12/2021
/ American Rescue Plan Act of 2021 ,
CARES Act ,
Child Tax Credit ,
COBRA ,
Coronavirus/COVID-19 ,
Dependent Care ,
Economic Aid Act ,
Economic Injury Disaster Loans ,
Economic Stimulus ,
Grants ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Public Health ,
Restaurant Industry ,
Small Business ,
Small Business Loans ,
Student Loans ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Exemptions ,
Unemployment Benefits
On July 24, the Massachusetts Department of Revenue (DOR), in collaboration with the Massachusetts Life Sciences Center (MLSC) and the Executive Office of Housing and Economic Development, promulgated Regulation 830 CMR...more
The tax provisions of the HEALS Act would expand upon and modify several provisions of the Coronavirus Aid, Relief and Economic Security (CARES) Act, including the employee retention tax credit, while also introducing...more
The IRS has granted a six-month extension to file applications for a tentative carryback adjustment under the “quickie” refund procedure for net operating losses that arose in tax years that began in calendar year 2018 and...more