The Employee Retention Credit (ERC) was established by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) on March 27, 2020, to encourage businesses to keep employees on their payroll during the pandemic....more
5/13/2021
/ American Rescue Plan Act of 2021 ,
American Taxpayer Relief Act ,
Biden Administration ,
CARES Act ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Employee Retention ,
Employment Tax ,
Paycheck Protection Program (PPP) ,
Social Security Taxes ,
Startups ,
Tax Credits
Individuals, estates, and trusts that paid significant amounts of the 3.8% net investment income tax or the 0.9% additional Medicare tax in 2016 or later years should consider filing protective claims for refund of those...more
7/13/2020
/ Affordable Care Act ,
Capital Gains ,
Health Insurance ,
Income Taxes ,
IRS ,
Medicare ,
Royalties ,
Tax Cuts and Jobs Act ,
Tax Returns ,
Trump Administration ,
Trusts ,
U.S. Treasury
As expected, the Internal Revenue Service (“IRS”) has begun to address some of the details left open by the business tax provisions of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). This Alert...more
On April 9, 2020, the Internal Revenue Service (“IRS”) released Notice 2020-23, amplifying the coronavirus-related tax relief recently provided in Notices 2020-18 and 2020-20.
Notice 2020-23 automatically postpones...more
On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law. The CARES Act is a $2 trillion economic aid package, which makes numerous changes to the federal tax laws to...more
On March 25, 2020, the Internal Revenue Service (the “IRS”) released the People First Initiative as part of its ongoing effort to provide relief to taxpayers impacted by COVID-19. The People First Initiative grants taxpayers...more
What happened?
On December 18, Congress passed and the President signed into law the Protecting Americans from Tax Hikes Act of 2015 (the “PATH Act”), a measure that, among other things, retroactively renews, extends and...more
What happened? -
In the wee hours of December 16th, Congress passed H.R. 5771, the Tax Increase Prevention Act of 2014 (“TIPA”), a stopgap measure that, among other things, retroactively extends certain tax incentives...more