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Corporate E-note - December 2021

Resources - South Carolina Business License Reforms Go Into Effect January 1, 2022 - South Carolina businesses have historically been subject to business license taxes on their gross income that vary widely from...more

Labor & Employment E-Note - March 2021

Spotlight - Burr & Forman Represents Coastal Carolina University in Title IX Defense Verdict - Jim Gilliam and Hunter Freeman successfully represented Coastal Carolina University in a five-day federal jury trial...more

COBRA Without the Bite

On March 11, 2020, President Biden signed into law the American Rescue Plan Act (“ARPA”).  The ARPA mandated several important changes for both employers and employees.  One of these is potentially significant for both: full...more

American Rescue Plan Extends Employee Retention Credit

Prior to the passage of The American Rescue Plan Act of 2021 on March 11, 2021 (the “Rescue Act”) the employee retention credit, as amended by the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (the “Relief Act”), was...more

Retroactive 2020 Employee Retention Credit Changes and 2021 Enhancements

The Employee Retention Credit, as originally enacted on March 27, 2020 by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), is a refundable tax credit against certain employment taxes equal to 50% of the...more

Key Tax Provisions of COVID Relief Bill

Congress passed the Consolidated Appropriations Act, 2021 (the Act) on December 21, 2020.  The Act, which is 5,593 pages, contains a number of stimulus measures designed to address the economic impact of the coronavirus...more

South Carolina Confirms CARES Act Stimulus Payments Are Not Taxable

The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) provides individuals with a stimulus payment of $1,200 per adult, plus $500 for each qualifying child age 16 and under (subject to phase-outs for higher...more

SBA Forgiveness Application Provides Some Clarity on PPP Loan Forgiveness

On May 15, 2020 the Small Business Administration (SBA) released a Paycheck Protection Program Loan Forgiveness Application with related instructions. The application and instructions help answer some of the questions...more

Planning for Paycheck Protection Program Forgiveness

One of the key benefits of a Paycheck Protection Program (PPP) loan is the ability to have all or a portion of the loan forgiven. The amount of a PPP loan that will be forgiven is based initially on the qualifying costs an...more

CARES Act Provides No Cost Loan by Allowing Employers to Defer Employment Tax Deposits

One of the provisions included in the Coronavirus, Aid, Relief and Economic Security Act (CARES Act) allows an employer and self-employed individuals to defer the payment of the employer’s share of social security taxes (not...more

CARES Act Employee Retention Tax Credit

On March 27, 2020 the the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act or Act), H.R. 748, became law.  The Act provides eligible employers a tax credit against employment taxes equal to 50% of qualified...more

Key Tax Provisions of the CARES Act

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

Internal Revenue Service Provides Additional Guidance on Tax Credits for Emergency Leave

On March 18, 2020 President Trump signed the Families First Coronavirus Response Act  (Act) to provide relief to employees and small and midsize businesses. The Act is effective until December 31, 2020.  The Act requires...more

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