President Biden signs American Rescue Plan Act of 2021
$1.9 trillion COVID-19 relief plan with broad individual relief and new coronavirus-related funding enacted into law.
Knowledge Base
Search Results
What’s going on with China Evergrande Group?
Investors question whether the potential collapse of China's heavily-indebted real estate developer is China’s "Lehman Brothers moment."
Wayfair nexus turns three by celebrating near universal adoption
Three years after the Wayfair decision, economic sales tax nexus has become the norm, but unanswered questions and numerous issues remain.
IRS issues PPP expense deduction safe harbor for fiscal year taxpayers
IRS safe harbor for fiscal year taxpayers on accounting period in which to deduct PPP expenses provides choices and certainty.
Senate passes extension of Paycheck Protection Program to May 31
PPP extension clears Senate. Program to be extended to May 31, with 30 days provided after May 31 for SBA to process pending applications.
9 important tax topics for individuals and business owners in 2021
Managing significant tax changes will ensure individuals and businesses are positioned for success for the remainder of 2021 and beyond.
Enhanced charitable deductions extended for individuals through 2021
Stimulus legislation extends through 2021 the 100% of AGI deduction for itemizers and availability of a deduction for non-itemizers.
Colorado restores certain business deductions related to the CARES Act
Colorado enacts law restoring certain deductions related the to the CARES Act for both business and individual taxpayers.
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.
PPP forgiveness and expenses: State tax implications
States may not allow the gross income tax exclusion provided by the federal program, resulting in taxable discharge of indebtedness income.
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.
PPP reopening for first draw borrowers Jan. 11; second draw Jan. 13
Treasury Department and SBA announce reopening dates for Paycheck Protection Program - Jan. 11, 2021 and Jan. 13, 2021.
SBA releases guidance on PPP second draw loans
SBA releases two PPP reopening guidance packages. The first for new borrowers and the second for the second draw program.
SBA releases guidance on PPP continued access program
SBA releases two PPP reopening guidance packages. The first for new borrowers and the second for the second-draw program.
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.