Federal

Tax Credits for Employers Providing Paid Leave Related to COVID-19 Vaccinations

The American Rescue Plan Act of 2021 (ARPA) allows businesses (including tax-exempt organizations), with fewer than 500 employees, to claim refundable tax credits for the cost of providing paid sick and family leave to their employees due to COVID-19, including leave taken by employees to receive or recover from COVID-19 vaccinations. The tax credits are […]

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Restaurant Revitalization Fund Details Revealed

The Restaurant Revitalization Fund (RRF) relief program application portal will be tested in a week-long trial ahead of the application launch. Following the pilot, the application portal will be opened to the public. However, the official launch date won’t be announced until a later date by the Small Business Association (SBA). All eligible applicants will […]

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ARPA: Unemployment Partially Excluded from Income for Some Taxpayers

A little-reported provision of the American Rescue Plan Act of 2021 (ARPA) – Unemployment Benefits Received in 2020 May Be Partially Excluded from Income for Some Taxpayers Many Americans found themselves collecting unemployment as the pandemic took hold in early 2020. Those taxpayers are now in the process of filing their income tax returns for […]

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PPP Deadline Extension is Signed Into Law

The Paycheck Protection Program (PPP) application deadline formally changed from March 31 to May 31, 2021, when the PPP Extension Act of 2021 was signed into law this week. The PPP Extension Act does not provide any additional funding for the current round of the PPP, which Congress provided with more than $290 billion to […]

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