Ideas & Insights

Some employers can give paid leave to employees impacted by COVID in 2021 and claim a payroll tax credit per the American Rescue Plan Act.

IRS Issued Notice 2021-24 to extend relief for failure to deposit employment taxes for employers anticipating credits.

The Iowa Department of Revenue advises taxpayers that Employee Retention Credit-related wage deduction reductions apply at the state level.

Managing significant tax changes will ensure individuals and businesses are positioned for success for the remainder of 2021 and beyond.

The Pennsylvania Department of Revenue has issued complex guidance for employees claiming home office expense during the pandemic.

Notice 2021-20 clarifies retroactive changes made to ERTC and PPP interaction and incorporates several previous frequently asked questions.

The Employee Retention Credit provides liquidity benefits for many businesses and was significantly expanded for 2020 and 2021.

IRS postpones certain filing, payment and other time sensitive deadlines for taxpayers affected by Texas winter storms.

Effective January 1, Oregon businesses and individuals in the Portland area have additional regional and county taxes on income and wages.

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

The DOL has issued final regulations on the FSLA’s rules for independent contractors including gig workers, but it may be repealed.

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

In response to the COVID-19 pandemic, Notice 2021-7 allows taxpayers to switch valuation methods for employer-provided vehicles.

Updated emergency regulations and revised guidance explains the duration of COVID-19 nexus and withholding policies.

While guidance for PPP loan forgiveness and accounting continues to create new sets of questions, RSM specialists discuss pressing issues.

New Hampshire files challenge over Massachusetts regulation taxing telecommuting nonresidents with U.S. Supreme Court.

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

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

The final version of Form 941-X Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund has been released by the IRS.

Following the President’s memo on August 8, Treasury releases very short Notice 2020-65 delaying the deadline for employee FICA tax.