by Anne Angera | Feb 3, 2024 | Resources For Employers
The Employee Retention Credit (ERC) was introduced back when COVID-19 temporarily closed many businesses. The credit provided cash that helped enable struggling businesses to retain employees. Even though the ERC expired for most employers at the end of the third...
by Anne Angera | Jan 3, 2024 | Resources For Employers, Resources For Individual Taxpayers
The optional standard mileage rate used to calculate the deductible cost of operating an automobile for business went up by 1.5 cents per mile in 2024. The IRS announced that the cents-per-mile rate for the business use of a car, van, pickup or panel truck will be 67...
by Anne Angera | Jan 3, 2024 | Resources For Employers
Your business may have to meet new reporting requirements that took effect on January 1, 2024. Under the Corporate Transparency Act (CTA), enacted in 2021, certain companies will be required to provide information related to their “beneficial owners” — the individuals...
by Anne Angera | Dec 14, 2023 | Resources For Employers
On the tax front, 2023 (as of now) has not seen any major legislation. This means fewer tax changes in 2023 than in years past. As always, there is a potential for that to change before the end of the year. As another year ends with interest rates and markets in flux,...
by Anne Angera | Oct 5, 2023 | COVID-19 Industry & Company Update, Resources For Employers, Uncategorized
In the face of a flood of illegitimate claims for the Employee Retention Tax Credit (ERC), the IRS has imposed an immediate moratorium through at least the end of 2023 on processing new claims for the credit. The reason the IRS cites for the move is the risk of honest...
by Anne Angera | Jul 28, 2023 | Resources For Employers, Resources For Individual Taxpayers
President Biden has signed into law the new debt ceiling agreement that he reached with U.S. House of Representatives Speaker Kevin McCarthy (R-CA). The Fiscal Responsibility Act (FRA) suspends — as opposed to raising — the debt ceiling until 2025, after the next...
