Last Call for 2020 Tax Planning (Yes, in April 2021)
Believe It or Not, There’s Still Time to Implement This Smart Strategy The global pandemic has relentlessly hammered business owners from every angle – and while massive relief legislation eased some of the burden, it also increased the workload. Developing and maintaining alternative business operations to keep employees and customers
American Rescue Plan Relief for Venue Operators & Restaurants
EIDL Loan Increase, Shuttered Venue Operators Grant, Restaurant Revitalization Fund Grant Updates The American Rescue Act, signed into law by President Joe Biden on March 11, provides assistance for struggling venue operators, restaurants, and bars that have been especially hard-hit by the COVID-19 Pandemic. The American Rescue Plan Act of
Expenses Paid with PPP Loan Proceeds Now Deductible in Kentucky
On March 15, 2021, Kentucky Governor Andy Beshear signed into law House Bill 278, which allows expenses paid with PPP loan proceeds to be tax deductible for Kentucky income tax purposes, providing much needed relief for taxpayers. The passage of the Consolidated Appropriations Act (“CAA”) in late December provided taxpayers
President Biden Signs the American Rescue Plan of 2021
[UPDATE: On Thursday, March 11, 2021, President Biden signed into law: H.R. 1319, the “American Rescue Plan Act of 2021,” which provides additional relief to address the continued impact of the COVID-19 pandemic on the economy, public health, State and local governments, individuals, and businesses. On March 10, 2021, the
$1.9 Trillion COVID-19 Relief Bill | American Rescue Plan
The U.S. House of Representatives passed the $1.9 trillion American Rescue Plan of 2021 pandemic relief legislation on Saturday, February 27, 2021, to help Americans weather the ongoing health and economic crisis caused by the COVID-19 pandemic. The bill now moves to the Senate for consideration the week of March
Lawmakers Push to Extend Tax Filing Deadline
On February 18, 2021, the Committee on Ways and Means wrote a letter to IRS Commissioner Charles P. Rettig to petition the extension of the tax return filing season beyond April 15, 2021. The Service was asked to consider the request and make an announcement as soon as possible. Different