As the 2021 tax filing season approaches it is important for business owners to identify tax savings and opportunities that exist as a result of the recent tax legislation and relief provisions enacted this past year. The IRS has also issued various guidance with respect to the CARES Act (March 2020) and the Economic Aid… [keep reading…]
Tag: Economic Aid Act
Employee Retention Tax Credit
The employee retention tax credit is now available for employers who previously received, or will receive, a Paycheck Protection Program loan. This change in the law provides significant benefits to employers who have been negatively impacted in 2020 and 2021 due to the economic downturn related to Covid-19. We have detailed the specifics below. Feel… [keep reading…]