Ideas & Insights

Employers impacted by COVID-19 may be eligible for payroll tax credits and deferrals reportable on their quarterly payroll tax returns.

The Employee Retention Tax Credit was significantly expanded by the federal relief and stimulus package finalized Dec. 27, 2020.

Final air transportation excise tax regulations provide rules for aircraft management services exemption and update prior regulations.

New Jersey Gov. Phil Murphy has approved a bill that authorizes over $14 billion in business tax credits and incentives.

The IRS issued the final regulations for the section 45Q carbon sequestration credit after reviewing public comments.

Disaster relief may provide liquidity for individuals and businesses located in areas affected by presidentially declared disasters.

Georgia has expanded the state jobs tax credit to apply to businesses hiring telecommuting employees in 2020 or 2021.

The continuity safe harbor of the beginning of construction requirement is extended to energy credits for offshore or federal land projects.

Guidance permits tax relief for fuel removed from terminals in Milwaukee or Madison and entered into Green Bay terminals through 2021.

Industry backed legislation passed by Congress to make permanent excise tax rate reductions for craft beer, wine, and distilled spirits.

The 2021 Consolidated Appropriations Act passes Congress and includes many extended and improved tax credits and incentives.

Last minute negotiations pave way for Congress to pass second major COVID-19 stimulus package with tax law changes and tax extenders.

Exemption from excise tax on hand sanitizer extended and all FDA approved formulas permitted without requiring prior TTB approval.

The IRS has developed new guidance for processing interest bearing fuel claims, including one-time claims for alternative fuel credits.

The IRS has updated six questions in their Employee Retention Credit FAQ document on Tribal Governments and PPP loans in acquisitions.

Misconceptions about the federal research and development tax credit leave many companies paying more tax than required.

The Eleventh Circuit determined that reserved rights for homesites did not violate section 170(h)(2) charitable contribution rules.

Tax planning opportunities for consideration in light of COVID-19, the resulting economic crisis, and evolving tax laws and regulations.

Excise taxes can have a serious financial impact on business, yet many aren’t focused on the potential impacts.

The final regulations issued by the IRS provide guidance for meal and entertainment deductions under section 274.