NEWS
From FFCRA to ARPA: The latest on paid COVID-related leave
The Families First Coronavirus Response Act (FFCRA) was one of the first major laws enacted in response to the COVID-19 pandemic. It allows employees paid sick time and paid family leave time to care for themselves or loved ones during the ongoing health crisis. As of...
COBRA Provisions Play Critical Role in COVID-19 Relief Law
During the COVID-19 pandemic, many employees and their families have lost group health plan coverage because of layoffs or reduced hours. If your business has had to take such steps, and it’s required to offer continuing health care coverage under the Consolidated...
PPP Application Deadline Extended to May 31, 2021
The PPP Extension Act of 2021 extends the Paycheck Protection Program (PPP) application filing deadline from March 31, 2021, to May 31, 2021, thus providing potential PPP borrowers additional time to submit their applications. The law also gives the SBA an additional...
Recent IRS, PA and NJ Announcements Extend the Individual Tax Filing Deadline to May 17, 2021
The IRS has announced that the federal income tax filing deadline for individuals filing Form 1040 for the 2020 tax year is extended from April 15, 2021, until Monday, May 17, 2021. The IRS extended the deadline to provide relief to taxpayers facing challenges as a...
The American Rescue Plan Act has passed: What’s in it for you?
Congress has passed the latest legislation aimed at providing economic and other relief from the COVID-19 pandemic that has haunted the country for the last year. President Biden is expected to sign the 628-page American Rescue Plan Act (ARPA), which includes $1.9...
Pennsylvania Businesses and Nonprofit Organizations: Protect Your Business Name | Pennsylvania Decennial Filing Due This Year
The Pennsylvania Decennial Filing or Report is a report of an entity’s continued existence or use of certain marks. Decennial filings are made every ten years during the years ending with the numeral “1” (i.e., “2021”). As of January 15, 2021, the Pennsylvania...
Many tax amounts affecting businesses have increased for 2021
A number of tax-related limits that affect businesses are annually indexed for inflation. Many have increased for 2021, while some have stayed the same due to low inflation. Here’s a rundown of those that may be important to you and your business. Social Security tax...
2021 individual taxes: Answers to your questions about limits
Many people are more concerned about their 2020 tax bills right now than they are about their 2021 tax situations. However, it’s a good idea to acquaint yourself with tax amounts that may have changed for 2021. Below are some Q&As about tax amounts for this year....
Did you make donations in 2020? There’s still time to get substantiation.
If you’re like many Americans, letters from your favorite charities may be appearing in your mailbox acknowledging your 2020 donations. But what happens if you haven’t received such a letter — can you still claim a deduction for the gift on your 2020 income tax...
Important Update Regarding the Employee Retention Credit (ERC)
In recent blasts, and during our live webinar on January 21, we touched on various provisions of the Consolidated Appropriations Act (CAA) which was enacted December 27, 2020. Many parts of this Act revolved around extensions or changes to provisions offered in the...
