The Employee Retention Credit (ERC) is one of several programs the federal government implemented in the wake of COVID-19. This program reimburses businesses through a tax credit—i.e. a lump sum...
Did you know that Employee Retention Credits (ERC) from the Cares Act are still available for many businesses filing taxes? The ERC benefit can be significant: up to $5,000 per...
In March 2022, the IRS identified 11,096 suspicious returns claiming more than $2 trillion in Employee Retention Tax Credits. The full extent of the fraud has yet to be...
(authored by RSM US LLP) Congress passed multiple pieces of legislation aimed at providing relief to employers struggling due to the pandemic. A new Treasury Inspector General for Tax Administration...
(authored by RSM US LLP) Employers need to react quickly to the new guidance to pay in amounts as if they were incurred on Dec. 31, 2021....
(authored by RSM US LLP) IRS releases Rev. Procs. 2021-48, 2021-49 and 2021-50 to address the treatment of tax-exempt income for PPP loans....
(authored by RSM US LLP) Bipartisan infrastructure bill passes House with bipartisan vote. President Biden expected to sign by end of next week....
Authored by: W. Dale Westenskow, CPA and Greg Ward, CPA The IRS has recently released guidance to address changes made by the American Rescue Plan Act of 2021 for wages paid...