2021 Tax Thresholds

The 2020 U.S. income tax filing season began on Friday 12, 2021. As a result, individuals are now able to submit their 2020 income tax returns and the IRS will consequently start accepting and processing 2020 tax returns. With the start of this year’s tax filing season, we are providing a rundown of the income … Continued

The Consolidated Appropriations Act of 2021

The Consolidated Appropriations Act of 2021 (“CAA”) both enhanced and expanded the ability for taxpayers to receive the Employee Retention Credit (ERC) in 2021. As a result of the changes, we are providing this message to summarize what the credit is, whether you may be a qualified business for purposes of taking the credit, and … Continued

COVID-19 Relief Arrives: Provides stimulus, resolves expense deductibility on PPP & extends expiring tax benefits

The Consolidated Appropriations Act of 2021 (generally referred to as the “COVID-19 Relief Bill” or the “Act”) became law on December 27, 2020 upon President Trump’s signature. Amongst the over 5,500 page spending bill was some long-awaited but anticipated COVID-19 related stimulus relief and an extension of various key income tax provisions for the 2021 … Continued

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