by Anne Angera | Aug 4, 2021 | Resources For Employers
A critical deadline is approaching for many of the businesses that have received loans under the Paycheck Protection Program (PPP), which was created in March 2020 by the CARES Act. If these borrowers don’t take action before the deadline expires, their loans will...
by Anne Angera | Jul 1, 2021 | Resources For Individual Taxpayers
Eligible parents will soon begin receiving payments from the federal government. The IRS announced that the 2021 advance child tax credit (CTC) payments, which were created in the American Rescue Plan Act (ARPA), will begin being made on July 15, 2021. How have child...
by Anne Angera | May 7, 2021 | Resources For Employers, Uncategorized
The IRS has released guidance explaining when the temporary 100% deduction for restaurant meals is available and when the 50% limitation on the deduction for food and beverages continues to apply for Sec. 274 purposes (Notice 2021-25). The Consolidated Appropriations...
by Anne Angera | May 7, 2021 | Resources For Individual Taxpayers
President Biden’s proposals for individual taxpayers were outlined in an April 28 address to Congress and in an 18-page fact sheet released by the White House. The “American Families Plan” contains tax breaks for low- and middle-income taxpayers and tax increases on...
by Anne Angera | Apr 30, 2021 | Resources For Employers, Uncategorized
The recently passed American Rescue Plan Act (ARPA) established a $28.6 billion Restaurant Revitalization Fund (RRF) with the Small Business Administration (SBA). The RRF will provide funding for eligible entities equal to their pandemic-related revenue loss up to $10...
