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CARES Employee Retention Tax Credit

There is much awareness of the Paycheck Protection Program (PPP) which has been receiving a lot of news attention and hype over the past year +.  What you are probably not hearing about, and/or if you are, you might not really understand the details, is the Employee Retention Credit (ERC) that can also be super…

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Prepare for 2021 Income Tax Laws Changes 

The pandemic of 2020 created many new tax laws and extensions that will continue to affect tax preparation and filing for the next 2021 income taxes. Additionally, there are other new laws enacted through the current administration that present some future challenges and opportunities to prepare for, while other special provisions have expired. Avoid costly…

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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…

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IRS Provides Update on Status of Processing Returns and Refunds for CARES Act Employee Retention Credit

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 FOR IMMEDIATE RELEASEMay 28, 2021 (Florence, SC – May 28, 2021) Recently, the IRS provided an update for returns and refunds that directly impact employers that have filed for the CARES…

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Legislative Update: Legislation Introduced to Increase Work Opportunity Tax Credit to Help Americans Get Back to Work

Proposed Legislation to Increase WOTC Minimum to $5,000 per Employee for All Targeted Groups FOR IMMEDIATE RELEASEMay 21, 2021 (Florence, SC – May 21, 2021) Legislation has been proposed to increase the Work Opportunity Tax Credit (WOTC), a proven business incentive that helps disadvantaged groups find jobs. The program, that was recently extended until December…

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Anticipated Employee Retention Credit Extension to Further Economic Relief to Businesses Including PPP Recipients

Employee Retention Credit Extension to Further Economic Relief to Businesses Including PPP Recipients FOR IMMEDIATE RELEASEMarch 11, 2021 (Florence, SC – March 11, 2021) 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…

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Biden Signs Stimulus Package into Law that Includes 6 Month Extension of CARES Act Employee Retention Credit Now up to $33,000 per Employee

Anticipated Employee Retention Credit Extension to Further Economic Relief to Businesses Including PPP Recipients (Florence, SC – February 11, 2021) In the last year, Congress and the Administration have taken extraordinary actions to provide important targeted assistance to families, businesses and the unemployed in response to the COVID-19 pandemic. This includes the CARES Act Employee…

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WOTC, Fed EZ, IEC & Disaster Relief Legislation Signed into Law

Tax Extenders Have Been Renewed and New Disaster Relief Available (Florence, SC – January 6, 2021) – On Sunday, December 27, 2020, the President signed into law the Consolidated Appropriations Act, 2021 (H.R.116). The Act includes a tax credit package that provides a one-year extension through 2021 to the Indian Employment Credit (IEC), and a…

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