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Internal Revenue Code (IRC) Tax Credits Wage and Hour

Husch Blackwell LLP

Employer Strategies for Assisting Employees Amidst California Wildfires: Qualified Disaster Relief Payments

Husch Blackwell LLP on

High winds and drought conditions have fueled severe wildfires, devastating communities around Los Angeles, California. The fires have destroyed thousands of homes and businesses, while firefighters are working tirelessly to...more

Woods Rogers

Federal Credit Unions Can Claim Employee Retention Tax Credits

Woods Rogers on

The IRS released new guidance for federal credit unions as to their ability to claim the Employee Retention Credit under Section 2301 of the CARES Act. According to the Office of Chief Counsel for the IRS, federal credit...more

Sheppard Mullin Richter & Hampton LLP

Inflation Reduction Act: Prevailing Wage and Apprenticeship Requirement FAQs and Key Takeaways from the Initial Guidance from the...

As previously discussed in our blog Inflation Reduction Act: Wage and Apprenticeship Requirements, the Inflation Reduction Act (the “IRA”) restructured the tax credit system associated with qualified clean energy projects...more

Littler

Treasury Department Issues Guidance on the Inflation Reduction Act’s Prevailing Wage and Apprenticeship Requirements

Littler on

On November 30, 2022, the U.S. Treasury Department published in the Federal Register its guidance on the Inflation Reduction Act’s (IRA) new prevailing wage and apprenticeship requirements. Taxpayers seeking to qualify for...more

Sheppard Mullin Richter & Hampton LLP

Inflation Reduction Act: Wage and Apprenticeship Requirements

President Joe Biden signed into law the Inflation Reduction Act of 2022 (“HR 5376”) (the “IRA” or the “Act”), on August 16, 2022. There are numerous tax credits in the legislation that intend to facilitate access to...more

Littler

New Federal Tax Credits Require Compliance with New Prevailing Wage and Apprenticeship Mandates on Clean Energy Construction

Littler on

On August 16, 2022, President Biden signed into law the Inflation Reduction Act (IRA) of 2022. Among many other provisions, the IRA contains a new federal 30% tax credit for private construction, alteration or repair of...more

Jackson Lewis P.C.

American Rescue Plan Act Extensions, Changes To Select Tax Credit, Compensation Deduction Provisions

Jackson Lewis P.C. on

The American Rescue Plan Act of 2021 expands upon some popular tax credit provisions and makes other changes to a key tax provision regarding compensation deduction limitations. These changes are summarized below...more

Jackson Lewis P.C.

Consolidated Appropriations Act, 2021: Employer-Sponsored Retirement Plans

Jackson Lewis P.C. on

The Consolidated Appropriations Act, 2021 generally provides the annual funding for the federal government and also contains several important rules giving further COVID-19 relief. The comprehensive relief package funds...more

Dickinson Wright

Determining Eligibility for the Employer Credit for Paid Family and Medical Leave

Dickinson Wright on

Section 45S of the Internal Revenue Code (“Code”), added to the Code by the Tax Cuts and Jobs Act of 2017, establishes a general business credit for an employer who provides paid family and medical leave to qualifying...more

Vedder Price

IRS Issues Notice 2018-71 to Clarify Tax Credit for Paid Medical Leave

Vedder Price on

Any employer who offers employees paid family or medical leave may benefit from the new Internal Revenue Code Section 45S, added by the Tax Cuts and Jobs Act and clarified on September 24, 2018 by Internal Revenue Service...more

Verrill

New Tax Credit for Paid Leave: What Benefits Professionals Should Know

Verrill on

The 2017 Tax Cuts and Jobs Act contains a two-year pilot project, developed by Senators Angus King (I-ME) and Deb Fischer (R-NE), that provides a tax credit to employers that offer at least two weeks of paid leave to low and...more

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