by ABIP | Dec 6, 2021 | Business, COVID-19, Individuals, News, Newsletter, Taxes
Tax Credit for Hiring Long-Term Unemployed Workers With many businesses facing a tight job market, employers should know about a valuable tax credit available to them for hiring long-term unemployment recipients and other groups of workers facing significant barriers...
by ABIP | Dec 3, 2021 | Business, COVID-19, Individuals, News, Newsletter, Taxes
Highlights of the Infrastructure Investment and Jobs Act While the recently passed Infrastructure Investment and Jobs Act primarily addresses infrastructure-related issues, it includes several tax provisions affecting individuals and small business taxpayers....
by ABIP | Sep 3, 2021 | Accounting, Business, COVID-19, Individuals, Newsletter
Safe harbor is now available that allows employers to exclude certain items from their gross receipts solely for determining eligibility for the Employee Retention Credit (ERC). These amounts are: The amount of the forgiveness of a Paycheck Protection Program (PPP)...
by ABIP | Sep 2, 2021 | Accounting, COVID-19, Newsletter
Extension Deadline Looming for 2020 Tax Returns Time is running short for taxpayers who requested an extra six months to file their 2020 tax return. As a reminder, Friday, October 15, 2021, is the extension deadline for most taxpayers. Taxpayers who owe tax – even...
by ABIP | Apr 5, 2021 | COVID-19, News, Newsletter
Economic Impact Payments: Round Three On March 12, following the American Rescue Plan Act’s approval and signing, the IRS began sending out the third round of Economic Impact Payments. Most payments were sent out via direct deposit, but approximately 150,000 checks...
by ABIP | Apr 3, 2021 | COVID-19, News, Newsletter
Coronavirus-Related Distributions and Loans The Coronavirus, Aid, Relief, and Economic Security (CARES) Act made it easier to access savings in IRAs and workplace retirement plans for those affected by the coronavirus. This relief provided favorable tax treatment for...
