The House of Representatives unanimously approved the Infrastructure Investment and Jobs Act on November 5. While discussions about the Build Back Better Act (BBBA) are still ongoing in the House, new information regarding anticipated changes to tax law has surfaced. Our tax experts discuss. The Infrastructure Investment and Jobs Act (also known as the Infrastructure…
The employee retention credit (ERC), which was initially introduced as part of the CARES Act, was expanded and modified under the Consolidated Appropriations Act in December 2020 and the American Rescue Plan Act in March 2021. Both of these pieces of legislation were passed by the United States Congress. Find out what these changes can…
Our team is here to assist you whether you are feeling overwhelmed by the prospect of contemplating all of the potential tax breaks for which you may be eligible or whether you are unsure as to whether or not you have the necessary documentation to apply an application for a tax credit. We will evaluate…
The employee retention credit (ERC), which was created as a result of the passage of the CARES Act, has recently undergone expansions and adjustments. Check to see that you are up to date and that you are making use of the credit. Participate in our on-demand webinar with our ERC subject matter experts. In order…
The Internal Revenue Service (IRS) has provided some answers to unanswered questions regarding the employee retention credit, such as the inclusion of COVID-19 relief funds in gross receipts and the treatment of tips in the calculation of qualified wages. These are just two examples of the issues that have been addressed. Editor’s note: This article…
On August 10, 2021, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) released a safe harbor that allows employers to remove certain goods from their gross revenues exclusively for the purpose of assessing whether or not they are eligible for the Employee Retention Credit (ERC). According to Revenue Procedure 2021-33, the…
