The Infrastructure Investment and Jobs Act was signed into law on November 15. While most of the legislation is related to investing in the nation’s infrastructure, there were a couple of tax provisions included in the bill. Here’s what you should know about two of those tax provisions: one affecting businesses and the other affecting brokers of cryptoassets.
If your business or nonprofit used the fully refundable tax credits to cover the cost of COVID-19-related emergency paid sick leave (EPSL) or expanded family and medical leave (EFML) for employees, there are new reporting requirements for W-2 reporting for 2021.
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Business entities that sponsor employee benefit plans, and plan administrators with the responsibility for regulatory compliance of their benefit plans should take note. There are significant changes coming for 2021 employee benefit plan audits that will include new requirements for plan sponsors.
The Work Opportunity Tax Credit is a long-standing tax benefit that encourages employers to hire employees from ten targeted groups facing barriers to employment.
New mandates regarding COVID-19 vaccinations and mask requirements in federal buildings will mean big changes for government contractors.
The Paycheck Protection Program (PPP) is in the forgiveness stage for most businesses. Here’s an overview on how to navigate the PPP loan forgiveness process.