Beware of traps with paid time off policies
Some common paid time off (PTO) policy features cause taxable income to unexpected parties at unexpected times. Learn more here.
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House passes infrastructure legislation; sends bill to President Biden
Bipartisan infrastructure bill passes House with bipartisan vote. President Biden expected to sign by end of next week.
Ways and Means proposed IRA changes – what to keep an eye on
Several provisions would tighten IRA rules for high-income individuals, and some other changes apply regardless of income level.
New IRS guidance on health FSAs and dependent care assistance programs
IRS provides guidance on dependent care assistance program enhancements made due to COVID-19-related legislation.
Guidance issued for employers claiming the Employee Retention Credit
Notice 2021-20 clarifies retroactive changes made to ERTC and PPP interaction and incorporates several previous frequently asked questions.
Employee Retention Credit: Answers to frequently asked questions
The Employee Retention Credit provides liquidity benefits for many businesses and was significantly expanded for 2020 and 2021.
New IRS guidance on health FSAs and dependent care assistance programs
Employers can add flexibility to their health flexible spending accounts and dependent care assistance programs per Notice 2021-15.
President Biden’s tax plan
Taxpayers should familiarize with Biden’s plan, remain vigilant for developments and position themselves to act at the appropriate times.
Employee retention tax credit significantly expanded for 2021
The Employee Retention Tax Credit was significantly expanded by the federal relief and stimulus package finalized Dec. 27, 2020.
Game-changing updates to the Employee Retention Credit
Paycheck Protection Program (PPP) loan recipients may now qualify for the employee retention tax credit based on new legislation signed.
Retirement plans under the Consolidated Appropriations Act, 2021
The Act does not lengthen CARES Act COVID plan relief, but offers relief for non-COVID disasters, partial terminations and pension plans.
Congress passes appropriations bill, containing COVID-19 relief bill
Last minute negotiations pave way for Congress to pass second major COVID-19 stimulus package with tax law changes and tax extenders.
IRS issues guidance on 401(k) and 403(b) Plans
IRS guidance on the 15% maximum on automatic contributions, 401(k) and 403(b) plan safe harbor requirements, and plan loan offset rollovers.
Payment and deduction of CARES Act employer Social Security deferral
Employers may wish to pay Social Security taxes deferred under the CARES Act before the due date and should consider certain items.