For most businesses, turning the calendar to 2023 meant putting the pandemic and any of its tax-related effects further in the rearview mirror.
One notable exception, however, is the employee retention credit, or ERC,...more
4/18/2023
/ Audits ,
CARES Act ,
Coronavirus/COVID-19 ,
Employee Retention ,
Fraud ,
Income Taxes ,
Inflation Reduction Act (IRA) ,
IRS ,
Payroll Taxes ,
Self Employed ,
Small Business ,
Tax Credits
Participants in M&A transactions may lose eligibility, possibly retroactively, for the “employee retention credit” under Section 2301 of the CARES Act (Coronavirus Aid, Relief, and Economic Security Act) if a party to the...more
The IRS issued guidance on the Employee Retention Credits under the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) on March 31, 2020 and the Joint Tax Committee provided additional legislative history in the...more
The IRS extended the timelines for certain taxpayers engaging in Section 1031 like-kind exchanges or making investments in Qualified Opportunity Zone Funds. The IRS extensions only apply to deadlines that fall between April...more