The American Rescue Plan Act of 2021 made the tax credit for child and dependent care expenses substantially more generous (up to $8,000 for two or more children), but that credit went back to the old limit of $2,100 for 2022. Taxpayers who participate in their employer's pretax chil...
The 2020 ERC Program is a refundable tax credit of 50% of up to $10,000 in wages paid per employee from 3/12/20-12/31/20 by an eligible employer. That is a potential of up to $5,000 per employee. In 2021 the ERC increased to 70% of up to $10,000 in wages paid per employ...
The 2020 ERC Program is a refundable tax credit of 50% of up to $10,000 in wages paid per employee from 3/12/20-12/31/20 by an eligible employer. That is a potential of up to $5,000 per employee. In 2021 the ERC increased to 70% of up to $10,000 in wages paid per employ...
2022 - The Supreme Court just announced a temporary block of the Biden administration's vaccine-or-test mandate for large employers but upheld the vaccine-only mandate for health care providers. The court ruled 6-3 against the Occupational Safety and Health Administration's employer mandate, blocki...
The 2020 ERC Program is a refundable tax credit of 50% of up to $10,000 in wages paid per employee from 3/12/20-12/31/20 by an eligible employer. That is a potential of up to $5,000 per employee. In 2021 the ERC increased to 70% of up to $10,000 in wages paid per employ...
The IRS released a five-part Q&A on the temporary partial plan termination rules for qualified retirement plans under the Taxpayer Certainty and Disaster Tax Relief Act of 2020. Generally, there is a presumption that a partial plan termination has taken place when an employer's turnover rate is...
a portion of the cost of health care provided by the employer. However, if the employer gets a PPP Loan, that makes the employer ineligible for the credit. Additionally, any wages paid through reimbursement from the FFCRA sick and family leave provisions do not count tow...
However, paragraph (b)(3) provides that, even where the standard applies to a particular employer, its requirements do not apply to employees “who do not report to a workplace where other individuals such as coworkers or customers are present” or employees “who work exclusively outdoors.”...
The Joint Chiefs of Global Tax Enforcement, consisting of the IRS’s Criminal Investigation unit, with representatives of the UK, Canada, Australia, and...
COVID-19 Relief: Changing Employer Retirement Plan Contributions We are prepared to do everything we can to partner with our clients through these difficult times and welcome your thoughts, feedback or other ideas on how we can potentially assist you. Here are a few ways that TRI-AD is work...