For most businesses, turning the calendar to 2023 meant putting the pandemic and any of its tax-related effects further in the rearview mirror.
One notable exception, however, is the employee retention credit, or ERC,...more
4/18/2023
/ Audits ,
CARES Act ,
Coronavirus/COVID-19 ,
Employee Retention ,
Fraud ,
Income Taxes ,
Inflation Reduction Act (IRA) ,
IRS ,
Payroll Taxes ,
Self Employed ,
Small Business ,
Tax Credits
The IRS issued guidance on the FFCRA Paid Leave Tax Credits under the Families First Coronavirus Response Act (“FFCRA”) on March 31, 2020. The FFCRA Paid Leave Tax Credits are fully refundable tax credits giving covered...more
4/27/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Employee Benefits ,
Employment Tax ,
Families First Coronavirus Response Act (FFCRA) ,
Family and Medical Leave Act (FMLA) ,
Paid Leave ,
Paid Sick Leave Act ,
Recordkeeping Requirements ,
Self Employed ,
Sick Leave ,
Sick Pay ,
Small Business ,
Tax ,
Tax Credits ,
Wages
The IRS issued guidance on the Employee Retention Credits under the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) on March 31, 2020 and the Joint Tax Committee provided additional legislative history in the...more
The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which was signed by the President on March 27, 2020, includes several provisions affecting taxes.
SEC. 2201. 2020 Recovery Rebates for Individuals...more
3/30/2020
/ Business Closures ,
Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Relief ,
Unemployment Insurance