Are you taking advantage of the Employee Retention Credit (ERC) for COVID-19 Relief? Businesses who made the decision between the Payroll Protection Program (PPP) or Employee Retention Credit (ERC) may now be able to use both.SEE IF YOUR BUSINESS QUALIFIES HERE> ...
2In this regard, it is worth noting that in a similar context involving other COVID-19-related tax benefits, Congress expressly addressed “double dip” concerns. For example, sections 7001 and 7003 of the Families First Coronvirus Relief Act (FFCRA) provid...
assessing regulatory, legislative, and other governmental updates related to COVID-19 and who are prepared to assist clients. Please contact Yvonne Hennessey, COVID-19 Response Team leader, atyhennessey@barclaydamon.comor any member of the COVID-19 Response Team atCOVID-19ResponseTeam@barclay...
(Sovereign Man) A few hundred pages into the latest $1.9 trillion Covid relief law, the “American Rescue Plan Act of 2021,” you’ll findSection 9674, It says that a “third party settlement organization” does not have to report to the Internal Revenue Service (IRS) any payments to co...
Navigating the impacts of an extended government shutdown, sweeping tax reforms, operational disruption due to the COVID-19 pandemic and providing essential financial relief to thousands of businesses and individuals across the United States, the IRS ERM program helped the agency to remain resilient ...
IRS Criminal Investigation (IRS-CI) investigates a variety of COVID fraud allegations ranging from fraudulently obtained employee refund tax credits to falsified Paycheck Protection Program loans. To date, IRS-CI has unc...
While SETC (Self-Employed Tax Credit) and FFCRA (Families First Coronavirus Response Act) are both born from the same legislative umbrella aimed at providing COVID-19 relief, there's a neat distinction in their applicability: SETC: A Special Focus for the Self-Employed FFCRA: The Employee-Or...
COVID-19 Financial Relief ERC Voluntary Disclosure Program: aka Last Chance To Keep 20% Of Your Unentitled Pandemic Tax Credit Funds March 22, 2024Nancy McClellandLeave a comment TheIRS is offering an amazing dealto those who either fraudulently or mistakenly claimed Employee Retention Credits (ER...
Tens of millions of low-income Americans are still waiting for their stimulus check to arrive weeks after President Joe Biden signed into law the $1.9 trillion coronavirus relief package.
On December 14, lawmakers unveiled a draft of the Bipartisan Emergency COVID Relief Act of 2020, which includes a provision allowing deductions for PPP expenses that result in PPP loan forgiveness. The proposed legislation would provide, in relevant part, that “[N]o deduction shall be denied ...