The second round of COVID relief was passed last month as part of the Consolidated Appropriations Act (CAA). This new Act enhances and extends the Employee Retention Credit (ERC) and now allows employers who previously received a PPP loan, to retroactively claim the credit as well by amending previously filed 941’s.
The Department of the Treasury and IRS announced yesterday that the federal income tax filing due date for individuals for the 2020 tax year will be extended from April 15, 2021, to May 17, 2021.
At Hayashi Wayland, the health and safety of our people, their families, our clients and our communities are of critical importance to us. We are closely monitoring information from the Centers for Disease Control (CDC) and local health departments to help ensure that we are taking appropriate precautions to ensure everyone’s safety while continuing to provide continuous service.
With the passage of Proposition 19 and the change of administration in the White House, there is a lot of confusion about real property transfers, capital gain and estate taxes.
Proposition 19 goes into effect on February 16, 2021 and the favorable property tax reassessment terms for gifts from parents to children are going to change.
According to the California Department of Tax Fee Administration, returns due between December 15, 2020, and April 30, 2021, for all but the largest taxpayers, will be extended.
With the new challenges facing our communities each day I wanted to provide a little clarity around some of the questions that we are getting from local exempt organizations that are working to address the changing environment on all fronts.
The Tax Cuts and Jobs Act (TCJA) has officially been in place for two years now. It lowered the corporate income tax rate from 35% to 21% and provided a 20% deduction for qualified business income (QBI). However, the law also instituted new changes regarding net-operating loss (NOL) carryback and carryforward rules.
Since June 2018, businesses that operate in two or more of the nation’s 10,000-plus tax jurisdictions have been struggling to understand what they need to do to comply with the new definition of economic nexus.
An interview with new firm Partner, Scott Brubaker.
There’s a lot of confusion surrounding the Earned Income Tax Credit. To help clear it up, here are eight myths about the EITC – and our responses to them.
If you have your business tax payments set to auto-pilot, check those addresses: The IRS is closing business payment P.O. Boxes in the Cincinnati and Hartford areas beginning July 1,2020.