House Ways and Means releases reconciliation tax payfors
House Ways and Means issues its discussion draft amendment with revenue items to offset $3.5 trillion spending package.
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IRS extends Hurricane Ida Relief to New York and New Jersey victims
IRS postpones certain filing, payment and other deadlines for taxpayers affected by Hurricane Ida in New York and New Jersey.
New York issues pass-through tax guidance ahead of filing deadline
New guidance and dedicated website provide instruction to taxpayers electing into the pass-through entity tax workaround.
White House releases President’s budget, Treasury Greenbook
Administration issues Presidential priorities and pay-fors. Corporations and wealthy individuals face prospect of increasing tax rates.
The American Families Plan & its impact on the real estate industry
Summary of the American Families Plan and the potential impact that it could have on the real estate industry.
President Biden unveils his American Families Plan
Biden’s plan to grow the middle class, expand economic growth to all Americans and leave the US more competitive funded with tax changes.
5 business trends restaurants are facing in 2021
What are the top issues and opportunities trending for restaurant businesses this year?
SBA releases draft application and program guide for restaurant fund
SBA releases draft application as well as a program guide for the Restaurant Revitalization Fund. Potential applications should review.
New York to increase income tax rates; enact SALT workaround
Budget bill increases personal and corporate tax rates, enacts a SALT deduction workaround and makes other changes to the tax code.
IRS provides guidance on deductions for food or beverages
Notice 2021-25 provides temporary relief on deductions for food or beverage under the Taxpayer Certainty and Disaster Relief Act.
Senate passes extension of Paycheck Protection Program to May 31
PPP extension clears Senate. Program to be extended to May 31, with 30 days provided after May 31 for SBA to process pending applications.
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.
What we know about the Restaurant Revitalization Fund
American Rescue Plan Act of 2021 creates $28.6 billion grant program for restaurants and other food or beverage service companies.
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.
2021 Gifts – Buyer beware of the risk of retroactivity
From retroactivity to loss of planning techniques, this year we face a unique set of concerns when considering gift and estate planning.