Latest Covid-19 Relief Updates: Round up of Key Information

This past year has been one of the more challenging we have faced. Going forward, for as long as it’s useful, we will bring you a regular round up of relevant COVID-19 relief information highlighting what you need to know to manage through this crisis. Click here for key updates. Checklists for Paycheck Protection Credits […]

American Rescue Plan Act (ARPA) includes COBRA assistance

It is well known that COVID has made times tough for many businesses. The recently passed American Rescue Plan Act could help lighten the burden for employers required to offer continuing health care coverage under the Consolidated Omnibus Budget Reconciliation Act (COBRA).   100% subsidy Under the ARPA, assistance-eligible individuals (AEIs) may receive a 100% […]

Boosted Child Care Credit may make child care less expensive

There has not been many upsides to COVID, but an enhanced child care credit for 2021 could be one for eligible families. The credit is available for expenses a taxpayer pays for the care of qualifying children under the age of 13 so that the taxpayer can be gainfully employed. The real benefit is that […]

IRS Extends Some April 15th Filing Deadlines

In a news release, the IRS and Treasury Department announced an extension of the April 15th deadline to May 17th for the filing of 2020 individual income tax returns and the associated tax payments.   In a news release, the IRS and Treasury Department announced an extension of the April 15th deadline to May 17th […]

ARPA extends the ERC. All these letters getting you scrambled… Don’t worry, lets break them down to what they really mean for your business.

ARPA, the American Recovery Plan Act signed into law on March 11th has extended the ERC, Employee Retention Credit. Employee Retention Credits can be a very useful tool to aid in the recovery from the COVID-19 pandemic. Read on to find out more about ERC and how they can help you. The original credit As […]

Small business highlights in the new American Rescue Plan

We have all heard the benefits for individuals that were included in the act signed by President Biden on March 11. However, there are also some potential benefits for businesses to be aware of. Here are a few tax highlights that may help many business owners. The Employee Retention Credit (ERC). This valuable tax credit […]

Update on COVID-related deadline extensions for health care benefits

The DOL recently issued EBSA Disaster Relief Notice 2021-01. Employers should be particularly interested in Notice 2021-01. It clarifies the duration of certain COVID-19-related deadline extensions that apply to health care benefits plans.   Extensions to continue The DOL and IRS issued guidance last year specifying that the COVID-19 outbreak period — defined as beginning […]

What You Need to Know About the American Rescue Plan Act of 2021

From a taxpayer perspective, the bill included tax provisions that provide relief both to businesses and individuals through enhancements, and expansions of credits and programs that were put in place to keep families and small businesses afloat through the ongoing crisis. See details below on these important updates as they may benefit you and your […]