News & Analysis as of

Tax Credits Employees

A&O Shearman

New law approved on employees' participation in companies

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The new law on employee participation in companies, approved by the Senate on May 14, 2025 but not yet in force, introduces innovative tools to strengthen employee involvement in corporate management. The main new features...more

Ballard Spahr LLP

IRS Changes Course on Income Tax Impact of Employee Retention Credit

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On March 20, 2025, the IRS updated its guidance to employers that claimed the employee retention credit (ERC). The updated guidance materially differs from prior IRS guidance of how and when employers should report the income...more

Proskauer Rose LLP

UK Tax Round Up - January 2025

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Welcome to the January 2025 edition of our UK Tax Round Up. This month has seen a very interesting decision of the Court of Appeal on the significant influence test in the salaried member rules and decisions on the tax...more

Husch Blackwell LLP

Employer Strategies for Assisting Employees Amidst California Wildfires: Qualified Disaster Relief Payments

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High winds and drought conditions have fueled severe wildfires, devastating communities around Los Angeles, California. The fires have destroyed thousands of homes and businesses, while firefighters are working tirelessly to...more

Morgan Lewis

Employers Can Aid Wildfire Victims with Out-of-Pocket Expenses, Paid Leave, and Through Tax-Exempt Organizations

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Many individuals are in desperate need of funds due to injuries, damage, and other unexpected expenses caused by the ongoing wildfires in Los Angeles. Employers can aid wildfire victims with tax-free payments, paid leave, and...more

Ballard Spahr LLP

House Tax Bill Would Greatly Accelerate Employee Retention Credit Filing Deadlines

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The current draft of the Tax Relief for American Families and Workers Act of 2024 includes a proposed provision that would dramatically accelerate the deadline to file claims for the Employee Retention Credit (ERC) to January...more

Bond Schoeneck & King PLLC

IRS Launches Voluntary Disclosure Program Allowing Businesses to Avoid Penalties if They Pay Back a Portion of Incorrectly Claimed...

On Dec. 21, 2023, the Internal Revenue Service (IRS) launched a new Voluntary Disclosure Program that allows businesses to pay back only a portion of funds in satisfaction of the full amount of credit that they received based...more

Seyfarth Shaw LLP

The Biden Administration Issued Its Fall 2023 Regulatory Agenda – What Can We Expect From the DOL Wage and Hour Division’s...

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Seyfarth Synopsis: On December 6, 2023, the Biden Administration announced the release of its Fall 2023 Unified Agenda of Regulatory and Deregulatory Actions. The U.S. Department of Labor’s Wage and Hour Division continues to...more

Ballard Spahr LLP

FinCEN Issues Alert on COVID-19 Employee Retention Tax Credit Fraud

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On November 22, 2023, the Financial Crimes Enforcement Network (“FinCEN”), in close coordination with the Internal Revenue Service (“IRS”) Criminal Investigation (“CI”), issued an alert (“Alert”) regarding the COVID-19...more

Gray Reed

IRS Chief Counsel Issues GLAMon ERC Supply-Chain Disruption Eligibility

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Section 2301 of the CARES Act, as amended, permits employers to claim employee retention credits (“ERCs”) if they meet certain requirements. Under one of those requirements, an employer may claim an ERC if the employer’s...more

Faegre Drinker Biddle & Reath LLP

Congressional Leaders Address SECURE 2.0 Act Glitches

The SECURE 2.0 Act made sweeping changes to Internal Revenue Code (Code) and ERISA provisions governing employee benefit plans. In a recent letter to the Department of the Treasury and the Internal Revenue Service, the...more

Steptoe & Johnson PLLC

Qualifying for the Employee Retention Credit and Partial Shutdowns

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IRS Warnings - The IRS continues to issue warnings alerting employers to be wary of promoters aggressively pushing schemes to claim the employee retention credit (the ERC). The IRS has also added these promoter claims to its...more

Sheppard Mullin Richter & Hampton LLP

Inflation Reduction Act: Prevailing Wage and Apprenticeship Requirement FAQs and Key Takeaways from the Initial Guidance from the...

As previously discussed in our blog Inflation Reduction Act: Wage and Apprenticeship Requirements, the Inflation Reduction Act (the “IRA”) restructured the tax credit system associated with qualified clean energy projects...more

Schwabe, Williamson & Wyatt PC

What Else Happened During COVID: A Recap of Non-COVID-Related Employment Law Changes in Oregon Since 2020

In early 2020, most businesses found themselves unexpectedly pivoting their focus to unprecedented operational, workforce, supply chain, and legal changes in response to the COVID-19 pandemic. Businesses have had to...more

Littler

Treasury Department Issues Guidance on the Inflation Reduction Act’s Prevailing Wage and Apprenticeship Requirements

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On November 30, 2022, the U.S. Treasury Department published in the Federal Register its guidance on the Inflation Reduction Act’s (IRA) new prevailing wage and apprenticeship requirements. Taxpayers seeking to qualify for...more

Verrill

IRS Guidance Expands Access to ACA Premium Tax Credit, Allows Cafeteria Plan Sponsors to Permit Employees to Revoke Family...

Verrill on

Final Regulations under Section 36B of the Internal Revenue Code - On October 11, 2022, the Internal Revenue Service (IRS) issued Final Regulations under Code Section 36B relating to eligibility for the Affordable Care...more

Littler

New Federal Tax Credits Require Compliance with New Prevailing Wage and Apprenticeship Mandates on Clean Energy Construction

Littler on

On August 16, 2022, President Biden signed into law the Inflation Reduction Act (IRA) of 2022. Among many other provisions, the IRA contains a new federal 30% tax credit for private construction, alteration or repair of...more

Dickinson Wright

Tax Credits Available for Employers Granting Paid Leave Related to COVID-19 Vaccinations

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The American Rescue Plan Act of 2021 (ARP) allows certain businesses (generally, employers with fewer than 500 employees and non-federal governmental employers) to claim refundable tax credits as a reimbursement for the cost...more

Saul Ewing LLP

New Tax Credit Available for Certain Employers Who Provide Employees Paid Sick Leave to Get the COVID-19 Vaccine

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On April 21, 2021, President Biden announced that new tax credits are available to small businesses under the American Rescue Plan to incentivize vaccinations and to promote employee health around the country....more

Foley Hoag LLP

The American Rescue Plan Act of 2021: Understanding the Key Provisions Impacting Employers

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On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 (the “ARPA”) into law. In addition to providing nearly $2 trillion of monetary relief for individuals and business sectors impacted by the...more

McDermott Will & Schulte

Connecticut Bill Aims to Address the Impact of Telecommuting during the Pandemic

As we continue to face growing concerns because of the nationwide impact of COVID-19, taxpayers should be mindful of the potential impacts that the continued rise in telecommuting may have on their state personal income tax...more

Buckingham, Doolittle & Burroughs, LLC

Employee Retention Credit Expanded under Consolidated Appropriations Act: Now Available to PPP Loan Recipients and Extended to...

At the end of 2020, Congress passed another round of Covid-19 relief in The Consolidated Appropriations Act, 2021 (CAA). The CAA provides for some key tax-advantaged stimulus measures, such as a second round of PPP loans...more

Butler Snow LLP

The Impact of the New OSHA Guidance on Other Employment Policies and Practices

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On January 21, 2021, President Biden issued an Executive Order on Protecting Worker Health and Safety directing the Assistant Secretary of Labor for Occupational Safety and Health to issue science-based guidance for employers...more

McDermott Will & Schulte

COVID-19 Stimulus Package Significantly Expands CARES Act Employee Retention Tax Credits

The Consolidated Appropriations Act, 2021, which became law on December 27, 2020, makes significant changes to the employee retention tax credits available under the Coronavirus Aid, Relief and Economic Security Act (the...more

Bradley Arant Boult Cummings LLP

How to Provide Employees $26,250 in Nontaxable Student Loan Repayment Assistance

The Taxpayer Certainty and Disaster Tax Relief Act, recently passed as part of the “Consolidated Appropriations Act, 2021,” has significantly extended the tax exclusions for employer-paid student loan repayment assistance...more

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