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Potential benefits of Section 1202 continue to grow

Section 1202 of the Internal Revenue Code is growing in popularity among investors and may become even more valuable in 2022. Section 1202 allows founders and investors of corporations to exclude up to 100% of their capital gains derived from the sale of qualified...
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As 2022 draws near, taxpayers should consider compliance with amended Section 174

Since late 2017, taxpayers have been implementing the congeries of changes wrought by the most significant revisions to the Internal Revenue Code (IRC) in a generation,...
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IRS issues additional guidance on the employee retention credit

On August 4, 2021, the IRS issued Notice 2021-49, which provides long overdue guidance for employers that have taken or are considering taking the employee retention...
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CARES Act vs American Rescue Plan Act Funding

With the enactment of the Coronavirus State Fiscal Recovery Fund and the Coronavirus Local Fiscal Recovery Fund (Coronavirus Recovery Fund) established under the American Rescue Plan...
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Comprehensive COVID-19 Relief Package Passed

On March 10, 2021, the U.S. House of Representatives passed a modified version of the American Rescue Plan Act of 2021 (ARP bill), President Biden’s $1.9 trillion COVID-19 relief package aimed at stabilizing the economy, providing needed relief to individuals and small businesses, and improving and...
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IRS Announces Individual Tax Deadline Extension

For the second year in a row, the federal income tax filing due date for individuals has been postponed. The postponements come as a part of...
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American Rescue Plan Act Signed into Law

The American Rescue Plan Act (ARPA) was signed into law by President Biden on March 11, 2021. Read on below for the details on the provisions...
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SBA Issues Guidance on How to Apply for More PPP Funds

The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Economic Aid Act or Act), signed into law on December 27, 2020 as a part...
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Year-end 2020 May Not Be the “same as Last Year” for Payroll Taxes and Compensation and Benefits

As 2020 draws to a close, we would like to remind you that this year-end may not be the same as 2019 when it comes to...
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YEAR-END TAX PLANNING UNDER A BIDEN PRESIDENCY

On November 7, the Associated Press called the presidential election for former Vice President Joe Biden. The House of Representatives will remain under Democratic control, but control...
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