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Frequently Asked Questions on Tax Credits from the American Rescue Plan

June 15, 2021
tax faqs

The IRS released frequently asked questions regarding claiming credits under the American Rescue Plan. The FAQs provide details on the child and dependent care credit…

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Taxpayers Who Paid Taxes on Unemployment Compensation Receiving Refunds

June 7, 2021
balance-due notices

The IRS began issuing refunds this week to taxpayers who paid taxes on unemployment compensation. The IRS has strived to correct unemployment compensation overpayments, which…

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Restaurant Revitalization Fund Opens Today

May 3, 2021
ppp loan forgiveness application

The Restaurant Revitalization Fund, a $28.6 billion program from the US Small Business Administration to help eligible restaurants, bars, and other qualifying businesses impacted by…

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Did Your Small Business Receive a Paycheck Protection Program Loan? You May Be Eligible for a Safe Harbor

April 26, 2021
ppp loan

A safe harbor is now available to small businesses that received first-round Paycheck Protection Program (PPP) loans. The safe harbor allows recipients who filed their…

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Temporary Procedures for Electronic Signatures on Certain Forms Is Extended Through December

April 21, 2021
self-employed ppp

The IRS is allowing the use of electronic signatures on certain forms until December 31, 2021. The authorization on the IRS forms was set to…

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What Businesses Need To Know About the Temporary Tax Deduction for Food and Beverages

April 12, 2021
ppp loan forgiveness application

The IRS and Treasury issued guidance, Notice 2021-25, on the temporary tax deduction for business meals. The Taxpayer Certainty and Disaster Tax Relief Act of…

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Shuttered Venue Operators Grant Program Opens April 8

April 8, 2021
Shuttered Venue Operators Grant

Eligible venues impacted by the COVID-19 pandemic have a new option to receive financial help starting today. The Shuttered Venue Operators Grant (SVOG) program, part…

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How Employers Can Claim the Employee Retention Credit for 2021

April 5, 2021
PPP

There is new guidance from the IRS for employers claiming the Employee Retention Credit for the first and second quarters of 2021. Notice 2021-23 states…

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Tax Refunds for Unemployment Income Start in May

April 1, 2021
employer tax credit

Beginning in May, the IRS will automatically refund eligible taxpayers who filed their tax return and reported unemployment income before the recent changes made by…

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Additional Tax Deadlines for Individuals Are Extended to May 17

March 30, 2021
deadline extended

The IRS is extending additional tax deadlines for individuals from April 15 to May 17. The following deadlines are extended: IRAs and Roth IRAs Making…

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