COVID-19 regulatory and tax updates
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Don’t Forget Your SE FFCRA Credit
Self-employed farmers are allowed a FFCRA tax credit if they were out of commission in 2021 due to COVID. But certain rules apply.
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More ERC Info
We provide a post on several points related to the Employee Retention Credit that readers have asked over the last several days.
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Remember the ERC When You File Your Form 943
Since the Form 943 is due in January 2022, it is extremely important for you to review your operation to see if you qualify for the Employee Retention Credit.
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Here They Go Again
A reader provides a question on our post from yesterday on the Spot Market Hog Pandemic Program and we provide an update.
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Spot Market Hog Assistance
USDA just announced their Spot Market Hog Pandemic Program to help producers who sold pigs on the spot market in 2020. We go over the details.
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Finally, Guidance on Paying Back 4th Quarter ERC
The IRS releases details on how to pay back any fourth quarter ERC that you may have received or reduced your payroll taxes.
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Can I Have Some SALT With That?
The Senate is discussing changes to the State and Local Tax deduction that is currently limited to $10,000.
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As Usual – I am Wrong
The IRS just notified us that meals reimbursed using a per diem will qualify for the 100% deduction.
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Is Third Quarter The End of ERC
Once President Biden signs the infrastructure bill, taxpayers will no longer qualify for the employee retention credit for the fourth quarter of 2021. This may affect you.
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Update on Congress Tax Proposals
Congress continues to tinker with the Build Back Better Act and we review the changes done today.