January, 2024
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Tentative Deal on the Table to Rescue Lost Business Deductions
An initial framework for proposed tax legislation appears to have bipartisan support. The House Ways and Means Committee Chairman, Jason Smith, and Senate Finance Committee Chairman, Ron Wyden, have laid out a framework for more than just the typical tax extenders. The proposed legislation includes some significant changes, including modifications to the employee retention tax […]
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ERC, to Self-Report, or not to Self-Report, that is the Question
The government developed the Employee Retention Credit (ERC) program to help businesses impacted by the COVID-19 pandemic. The Internal Revenue Service (IRS), who oversees the ERC program, set rules to make sure that only eligible businesses could receive this credit. The ERC program has been complex and has undergone changes and updates, which has made […]
