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
Federal legislation relating to the employee retention tax credit (“ERTC”), passed to alleviate the financial burdens of businesses shut down due to governmental orders during COVID, is discussed in a prior Client Advisory....more
During the COVID-19 emergency, the federal government offered much-needed liquidity to qualifying businesses and nonprofits through loans and payroll tax credits. Qualified employers have been allowed credits against certain...more
New federal law (Section 9501 of the American Rescue Plan Act of 2021 – ARP Act, PL 117-2) provides a temporary, full subsidy of some premiums that individuals would have to pay for COBRA coverage following a reduction in...more
The Consolidated Appropriations Act was signed into law on December 27, 2020, and provides various types of financial relief during the pandemic. Below is an outline of financial relief for employees and individuals covered...more
The CARES Act provides two tools for boosting an employer’s cash flow by reducing its employment taxes through a tax credit, and by delaying payment of certain payroll taxes. ...more