Tax Update – American Rescue Plan Act of 2021 Passed with Several Significant Tax Provisions
President Biden signed into law the American Rescue Plan Act of 2021 (the Act) on March 11, 2021. The Act includes several important tax provisions;
President Biden signed into law the American Rescue Plan Act of 2021 (the Act) on March 11, 2021. The Act includes several important tax provisions;
On February 8, 2021, the Pennsylvania Department of Revenue issued Restricted Tax Credit Bulletin 2021-01. This guidance discusses the limited carry forward of unused corporate
Lenders May Need to File Corrected Forms 1099 if Certain CARES Act/SBA Subsidized Loan Payments Have Been Reported to Borrowers The Internal Revenue Service (IRS)
Consolidated Appropriations Act, 2021, Passed – Provides COVID Relief and Other Tax Benefits The Consolidated Appropriations Act, 2021 (“Act”) was signed into law on December
The Internal Revenue Service has announced the standard mileage rates for 2021. The rate will be 56 cents per mile for all business miles driven after December 31,
Beginning with the 2020 reporting year, you must report nonemployee compensation (NEC) on the newly created Form 1099-NEC. Generally, if the following four conditions are
Deducting Expenses Paid with Paycheck Protection Program Funds – Where Do Things Stand? A major question being asked by taxpayers that received funds by participating
Pennsylvania has extended the carryforward period for education credits, due to the pandemic. In the event that a business cannot use education credits during the
New Jersey Corporation Business Tax Surcharge Retroactively Increased Back to 2.5 Percent New Jersey imposes a surtax on its Corporation Business Tax when taxable income
The Internal Revenue Service (IRS) has issued Announcement 2020-12 to inform lenders that they should not file Form 1099-C, Cancellation-of-Debt, information returns or furnish payee
President Biden signed into law the American Rescue Plan Act of 2021 (the Act) on March 11, 2021. The Act includes several important tax provisions;
On February 8, 2021, the Pennsylvania Department of Revenue issued Restricted Tax Credit Bulletin 2021-01. This guidance discusses the limited carry forward of unused corporate
Lenders May Need to File Corrected Forms 1099 if Certain CARES Act/SBA Subsidized Loan Payments Have Been Reported to Borrowers The Internal Revenue Service (IRS)
Consolidated Appropriations Act, 2021, Passed – Provides COVID Relief and Other Tax Benefits The Consolidated Appropriations Act, 2021 (“Act”) was signed into law on December
The Internal Revenue Service has announced the standard mileage rates for 2021. The rate will be 56 cents per mile for all business miles driven after December 31,
Beginning with the 2020 reporting year, you must report nonemployee compensation (NEC) on the newly created Form 1099-NEC. Generally, if the following four conditions are
Deducting Expenses Paid with Paycheck Protection Program Funds – Where Do Things Stand? A major question being asked by taxpayers that received funds by participating
Pennsylvania has extended the carryforward period for education credits, due to the pandemic. In the event that a business cannot use education credits during the
New Jersey Corporation Business Tax Surcharge Retroactively Increased Back to 2.5 Percent New Jersey imposes a surtax on its Corporation Business Tax when taxable income
The Internal Revenue Service (IRS) has issued Announcement 2020-12 to inform lenders that they should not file Form 1099-C, Cancellation-of-Debt, information returns or furnish payee
President Biden signed into law the American Rescue Plan Act of 2021 (the Act) on March 11, 2021. The Act includes several important tax provisions;
On February 8, 2021, the Pennsylvania Department of Revenue issued Restricted Tax Credit Bulletin 2021-01. This guidance discusses the limited carry forward of unused corporate
Lenders May Need to File Corrected Forms 1099 if Certain CARES Act/SBA Subsidized Loan Payments Have Been Reported to Borrowers The Internal Revenue Service (IRS)
Consolidated Appropriations Act, 2021, Passed – Provides COVID Relief and Other Tax Benefits The Consolidated Appropriations Act, 2021 (“Act”) was signed into law on December
The Internal Revenue Service has announced the standard mileage rates for 2021. The rate will be 56 cents per mile for all business miles driven after December 31,
Beginning with the 2020 reporting year, you must report nonemployee compensation (NEC) on the newly created Form 1099-NEC. Generally, if the following four conditions are
Deducting Expenses Paid with Paycheck Protection Program Funds – Where Do Things Stand? A major question being asked by taxpayers that received funds by participating
Pennsylvania has extended the carryforward period for education credits, due to the pandemic. In the event that a business cannot use education credits during the
New Jersey Corporation Business Tax Surcharge Retroactively Increased Back to 2.5 Percent New Jersey imposes a surtax on its Corporation Business Tax when taxable income
The Internal Revenue Service (IRS) has issued Announcement 2020-12 to inform lenders that they should not file Form 1099-C, Cancellation-of-Debt, information returns or furnish payee