Advanced Child Tax Credit Explained
The American Rescue Plan Act of 2021 brought an increase to the Child Tax Credit. Check out the following graphic for an easy to read overview. For more details on...
29 April, 2021
Tax Credit Tag
Paid Leave for Employees Impacted by COVID-19 in 2021
(authored by RSM US LLP) 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....
22 April, 2021
The IRS Provides Further Guidance on the Employee Retention Tax Credit
(authored by RSM US LLP) The Relief Act made changes on how the Employee Retention Tax Credit works during the first two quarters of 2021....
05 April, 2021
Claim Your Economic Impact Payments on Your 2020 Tax Return
One of the more tax-troubling issues this year is the distribution of what Congress refers to as the recovery rebates. You may know these payments as the Economic Impact Payments...
22 March, 2021
Big Increase in Child Tax Credit For 2021
An increased child tax credit is part of the March 2021 American Rescue Plan Act stimulus package. Even though the benefit of a tax credit traditionally isn’t available until after...
18 March, 2021
How to Calculate and Claim ERC
The Employee Retention Credit (ERC) was introduced in March 2020 as part of the CARES Act. The ERC is a refundable payroll tax credit against employee wages designed to make...
11 March, 2021
Hospitality industry may find relief in new ERC expansions
(authored by RSM US LLP) Despite receipt of PPP loans, hospitality businesses may be eligible for retroactive 2020 and new 2021 credits....
04 March, 2021
Guidance Issued for Employers Claiming the Employee Retention Credit
(authored by RSM US LLP) Notice 2021-20 clarifies retroactive changes made to ERTC and PPP interaction and incorporates several previous frequently asked questions....
02 March, 2021