Status Update of Processing Form 941, Employer’s Quarterly Federal Tax Return and Form 941-X, Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund
Recently, the IRS provided an update for returns and refunds that directly impact employers that have filed for the CARES Act Employee Retention Credit (ERC). Specifically, they addressed the status of processing Form 941, Employer’s Quarterly Federal Tax Return and Form 941-X, Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund. Like many businesses in the […]
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Biden Signs Stimulus Package into Law that Includes 6 Month Extension of CARES Act Employee Retention Credit Now up to $26,000 per Employee
Today President Biden signed the American Rescue Plan Act of 2021 stimulus bill into law. Among the many provisions within the legislation includes another six-month extension of the CARES Act Employee Retention Credit (ERC). The legislation expands the ERC, a refundable payroll tax credit, to include wages for eligible employers from July 1, 2021 to […]
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Proposed 2021 Capital Gains Tax Laws
The Biden Administration has proposed significant tax increases in various arenas in order to fund the American Families Plan. One of the strongest proposed tax increases affect capital gains taxes, which are taxes assessed on financial assets sold at a profit. Capital gains includes profit gained from stocks, but also includes real estate and business gains. […]
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