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…
Read MoreThe 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…
Read MoreStatus 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…
Read MoreProposed 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…
Read MoreEmployee 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…
Read MoreAnticipated 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…
Read MoreJust as the name of our organization suggests, we here at Synergi produce substantial results as a unified force. In 2018, I got the exciting opportunity to join the Synergi Partners Team and become a part of a team that has allowed me to grow and flourish in my role. As a WOTC State Support…
Read MoreThis is the first time in tax credit history that businesses of ALL sizes and in all industries can benefit from the same program! There is much awareness of the Paycheck Protection Program (PPP) which has recieved a lot of news attention and hype. What you are probably not hearing about, and/or if you are,…
Read MoreTax 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…
Read MoreEmployee Retention Credit Enhanced and Expanded for Further Economic Relief to Businesses (Florence, SC – December 27, 2020) – On Sunday, December 27, 2020, the President signed a $900 billion COVID-19 relief package into law that includes additional relief for businesses. Specifically, the new legislation amends, expands, and enhances the CARES Act Employee Retention Credit…
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