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Tax Credits Trump Administration

Eversheds Sutherland (US) LLP

RINs on renewable electricity - is now the time for EPA action?

For more than a decade, the Federal Renewable Fuel Standard (RFS) has provided powerful incentives that have driven the introduction of new transportation fuels into the US marketplace due to valuable credits known as...more

Lowenstein Sandler LLP

Paycheck Protection Program: FAQs For Microbusinesses - UPDATED March 2021 #3

On December 27, the President signed into law the Consolidated Appropriations Act, 2021. The Act includes a roughly $900 billion COVID-19 relief package, known as the “Economic Aid to Hard-Hit Small Businesses, Nonprofits and...more

Husch Blackwell LLP

Whiplash: Is A New FFCRA On The Horizon?

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As we discussed previously after the Families First Coronavirus Response Act (FFCRA) expired on December 31, 2020, President Trump signed the 2021 Consolidated Appropriations Act (CAA) which allowed employers to decide if...more

Partridge Snow & Hahn LLP

The End of Mandatory COVID-19 Related Leave (For Now)

In a further attempt to alleviate the adverse economic impact caused by the COVID-19 pandemic, on December 21, 2020, Congress passed a $900 billion stimulus bill, which the President signed into law on December 27, 2020....more

Husch Blackwell LLP

Consolidated Appropriations Act: Important Changes To The Employee Retention Credit

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The CARES Act created a refundable “employee retention credit” as incentive for employers to retain their employees during the 2020 pandemic. Specifically, employers received a credit against their share of the Social...more

McDermott Will & Emery

COVID-19 Stimulus Package Significantly Expands CARES Act Employee Retention Tax Credits

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The Consolidated Appropriations Act, 2021, which became law on December 27, 2020, makes significant changes to the employee retention tax credits available under the Coronavirus Aid, Relief and Economic Security Act (the...more

McDermott Will & Emery

NMTC Extended through 2025 with $5 Billion Annual Appropriations

The New Markets Tax Credit (NMTC) program was extended through 2025 with a $5 billion annual appropriation as part of the Consolidated Appropriations Act, 2021, signed by President Trump on December 28, 2020. Before the...more

Schwabe, Williamson & Wyatt PC

Consolidated Appropriations Act, 2021: Tax Update

On December 27, 2020, President Trump signed into law the Consolidated Appropriations Act, 2021 (the “Act”). The Act, which includes the COVID-19-related Tax Relief Act of 2020 and the Taxpayer Certainty and Disaster Tax...more

Bradley Arant Boult Cummings LLP

How to Provide Employees $26,250 in Nontaxable Student Loan Repayment Assistance

The Taxpayer Certainty and Disaster Tax Relief Act, recently passed as part of the “Consolidated Appropriations Act, 2021,” has significantly extended the tax exclusions for employer-paid student loan repayment assistance...more

Schwabe, Williamson & Wyatt PC

Highlights of PPP Loan Items in the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act and 2021 Consolidated...

The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the “PPP2 Act”) is contained in the Consolidated Appropriations Act, 2021 (“2021 Appropriations Act”), a $900 billion, nearly 5,600-page bill passed...more

Bricker Graydon LLP

Second COVID-19 stimulus does not extend FFCRA’s paid leave requirements; Tax credits extend through March 31

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On December 27, 2020, President Trump signed the Consolidated Appropriation Act, 2021. The Act, although it includes $900 billion in stimulus relief in response to the COVID-19 pandemic, does not extend the paid leave...more

Schwabe, Williamson & Wyatt PC

Ten Things to Know About the PPP Loan Forgiveness Applications - Update #7

Below are ten important things to know about the Paycheck Protection Program (“PPP”) Loan Forgiveness ‎Applications and the detailed instructions for the applications posted on June 16, 2020, and October 8, 2020, ‎as well as...more

Brooks Pierce

Mandatory COVID Leave Expires, but Tax Credits for Providing COVID Leave are Extended

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Starting Jan. 1, 2021, employers subject to the Families First Coronavirus Response Act (FFCRA) are no longer required to provide employees with COVID-related paid leave, but they may do so in some situations and still...more

Wilson Sonsini Goodrich & Rosati

New Legislation Updates COVID-19-Related Tax Benefits and Credits

On December 27, 2020, President Trump signed the Consolidated Appropriations Act, 2021 (the Act), which updates several previously enacted tax benefits and credits passed in response to COVID-19. In a much-anticipated change,...more

Schwabe, Williamson & Wyatt PC

Congress Makes Additional Paid Family Leave and Paid Sick Leave Optional

The dust has now settled on the new stimulus bill signed by President Trump on December 27, 2020. The changes to the Family First Coronavirus Recovery Act (“FFCRA”) was buried in over 5000 pages of text and provides a choice...more

Bass, Berry & Sims PLC

COVID-19 Relief Bill – Extends Paycheck Protection Program and Creates Second Draw Loan Program

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On December 21, the United States Congress passed the Consolidated Appropriations Act, 2021, to fund annual appropriations and, through its “Additional Coronavirus Response and Relief” provisions, to supply a second round of...more

Pillsbury Winthrop Shaw Pittman LLP

Year-End Stimulus Bill Permits, but Does Not Mandate, Extension of FFCRA Leave

Late on December 27, 2020, President Trump signed into law an omnibus stimulus bill. The new legislation contained much needed extensions of unemployment benefits that have supported many Americans who have experienced...more

Pillsbury Winthrop Shaw Pittman LLP

Tax Extenders Included in the Stimulus Bill Poised to Provide a Boost to Renewables

After a week of uncertainty, on Sunday night, President Trump signed the $900 billion stimulus deal and $1.4 trillion government funding bill that was passed by Congress early last week. The legislation includes many...more

Verrill

FFCRA Leave Extended In New COVID-19 Relief Taking Care of HR Business

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Congress’s 5593-page Consolidated Appropriations Act, passed by the Senate on December 21, 2020, and signed by the President last night (December 27, 2020), includes an extension of employer tax credits for leave provided...more

Haynsworth Sinkler Boyd, P.A.

FFCRA Not Extended, But Credits Still Available

President Trump signed the new stimulus bill this week, which DID NOT extend the Families First Coronavirus Response Act (FFCRA). The FFCRA was established in March but expires December 31, 2020. Businesses were anxious to...more

Pierce Atwood LLP

President Trump Signs COVID-19 Stimulus Bill, Unlocking New Relief Spending

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On Sunday, December 27, 2020 President Trump signed into law the $900 billion stimulus package enacted by Congress on December 21. His signature ensures that this new relief spending for individuals, families, workers, and...more

UB Greensfelder LLP

Congress Permits Employers to Voluntarily Extend FFCRA Leave and Claim Tax Credits Through March 31, 2021

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In March 2020, the federal government passed the Families First Coronavirus Response Act (FFCRA), which required employers to provide paid leave to employees under certain circumstances related to the global coronavirus...more

Perkins Coie

Summary of Certain Business Tax Provisions in the Consolidated Appropriations Act, 2021

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After much political gridlock, Congress passed an omnibus government-spending bill (Appropriations Act), which includes another COVID-19 relief package. The Appropriations Act contains many tax-related provisions. Some of the...more

Husch Blackwell LLP

President Trump Signs Legislation With FFCRA Variations Effective January 1, 2021

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UPDATE: President Trump signed the original relief bill into law on December 27, 2020. Employers can now continue to receive the federal tax credit for allowing employees to take unused FFCRA paid sick and family leave...more

Vinson & Elkins LLP

Consolidated Appropriations Act, 2021: A Christmas Present For The Renewable Energy Industry

Vinson & Elkins LLP on

Late last night, Congress passed the COVID-19 relief bill, which provides extensions for key renewable energy tax credits. President Trump is expected to sign the bill into law in the next few days...more

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