Tax Alert: IRS Extends Tax Deadline Until May 17
IRS Extends Tax Deadline Until May 17 The Internal Revenue Service has extended the tax-filing deadline after heavy pressure from [...]
9 important tax topics for individuals and business owners in 2021
Managing significant tax changes will ensure individuals and businesses are positioned for success for the remainder of 2021 and beyond.
President Biden signs American Rescue Plan Act of 2021
$1.9 trillion COVID-19 relief plan with broad individual relief and new coronavirus-related funding enacted into law.
Pennsylvania issues COVID home-office expense deduction guidance
The Pennsylvania Department of Revenue has issued complex guidance for employees claiming home office expense during the pandemic.
Connecticut provides retroactive 2020 COVID relief
Governor Ned Lamont has signed legislation retroactively providing COVID-related business nexus and personal income tax relief for 2020.
Hospitality industry may find relief in new ERC expansions
Despite receipt of PPP loans, hospitality businesses may be eligible for retroactive 2020 and new 2021 credits.
Guidance issued for employers claiming the Employee Retention Credit
Notice 2021-20 clarifies retroactive changes made to ERTC and PPP interaction and incorporates several previous frequently asked questions.
LB&I to focus on proper reporting of tax purchase price allocations
LB&I’s compliance campaign focuses on taxpayer reporting of purchase price allocations in taxable asset acquisitions.
IRS launches new option to submit Forms 2848 and 8821 online
The IRS launched a new option to electronically submit third-party authorization forms with either handwritten or electronic signatures.
Moving abroad? A visa may not be enough to change your state tax home
A Nebraska court found that two taxpayers who moved to the U.K. did not intend to abandon their domicile for state tax purposes.