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The Key Tax Changes for the 2021 Tax Year
Another pandemic year has led to significant tax law changes for the 2021 tax season. Here's a brief rundown of the major developments. The American Rescue Plan (ARP) Act The American Rescue Plan Act, the $1.9 trillion COVID relief package signed by President Joe...
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The Key Tax Changes for the 2021 Tax Year
Another pandemic year has led to significant tax law changes for the 2021 tax season. Here's a brief rundown of the major developments. The American Rescue Plan (ARP) Act The American Rescue Plan Act, the $1.9 trillion COVID relief package signed by President Joe...
Employers may face penalties for late payment of deferred payroll taxes due by year’s end
Employers who took advantage of the payroll tax deferral under the Coronavirus Aid, Relief, and Economic Security (CARES) Act may face huge late payment penalties from the Internal Revenue Service (IRS) if they fail to repay at least 50 percent of deferred taxes by...
What every small business owner should know about changes to SBA’s COVID EIDL program
The U.S. Small Business Administration's Economic Interest Disaster Loan (EIDL) program is one of the biggest relief options enacted by the federal government to support small businesses' recovery from the economic impacts of COVID-19. It's also the only remaining...
Pennsylvania Department of Revenue releases new sales and use tax guidelines for equipment rentals and services
The Pennsylvania Department of Revenue (DOR) issued guidance on the new sales and use tax law for equipment rental transactions on November 2, effective immediately. The bulletin provided compliance requirements for taxpayers engaged in renting equipment used in...