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By Ashley Leonard
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Have you claimed or are you planning to claim the employee retention credit under the CARES Act? Make note of some updates to the IRS FAQ page on the credit.
When it comes to the Employee Retention Credit (ERC), you’ll want to do your due diligence to make sure you are not being improperly advised of your eligibility to claim the credit by a third-party ERC mill. Here are some Dos and Don’ts.
The latest infrastructure legislation ends the ERC early. Any wages paid after September 30, 2021 are now ineligible for the credit. Here’s what you should know.
Attention employers…you’ll want to read up on retroactive changes made to the employee retention tax credit. We have the details here.
Did you use someone other than your tax preparer to claim Employee Retention Tax Credits? Be prepared for some additional questions from your tax preparer concerning your eligibility.
Attention taxpayers…the Internal Revenue Service has rejected more than 20K claims for the Employee Retention Credit (ERC). Here’s what you should know if you receive a rejection letter.
Restaurants have been hit hard by the COVID-19 pandemic but fortunately the CARES Act offers a variety of economic relief measures, including the employee retention credit. Here’s what you need to know.
Wondering if your nonprofit organization qualifies for the ERC? We can help.
Do you have questions on the employee retention credit under the Coronavirus Aid, Relief and Economic Security Act? Here, we answer some frequently asked questions.
Was your business founded after February 15, 2020? You are likely eligible for employee retention credits (ERC) if you have not yet benefited. We have the details here.
Attention employers…if you received an advance payment of the ERC or reduced your employment tax deposits in anticipation of ERCs for the fourth quarter of 2021, read up on new guidance.
Attention businesses…do you owe penalties for additional income taxes assessed as a result of filing a retroactive ERC claim? Here’s what you should know.
Wondering if you’re eligible for the ERC? You may be overlooking this valuable tax break. There are two key considerations. Read on.
Have you taken advantage of the ERC yet? You may be overlooking this valuable tax break. There are two key considerations. Read on.
Be skeptical of outside vendors when looking to claim the ERC. Claiming the credit may better be handled by your payroll provider. Here’s why.
Employers…don’t forget to take advantage of the Employee Retention Credit (ERC) voluntary disclosure program. You can correct improper ERC claims at a 15% discount if you act before November 22, 2024. Here are the details.
New IRS information presents how businesses may handle wage deductions for Employee Retention Credit (ERC) refunds—find out what’s changed and how it impacts your tax strategy.
The IRS just released its long-awaited guidance on how the Employee Retention Credit (ERC) and Paycheck Protection Program (PPP) interact. Let’s dive in.
“If you retained employees during COVID, you may qualify for cash from the IRS…This is not a loan, rather a tax credit so you don’t pay it back” Sounds too good to be true? It probably is! Here’s what to look out for.
Are you a Massachusetts or Rhode Island employer utilizing the Employee Retention Credit (ERC) program? Then read on as the recent lifting of COVID19 restrictions may affect your eligibility.
You’ll want to read our blog for some planning tips and considerations about how the ERC can affect your loan forgiveness.
Attention employers…the IRS is warning you to beware of third parties improperly advising you to claim the employee retention credit (ERC) even if you do not qualify. Here’s what you should watch out for.
Has a third party advised you to claim the employee retention credit (ERC)? Think twice before accepting the offer—the IRS has just outlined a new process to report these ERC mills. Read on.
As a result of a surge of questionable Employee Retention Credit (ERC) claims, the Internal Revenue Service has put an immediate stop to processing new ERC claims. Here’s what you need to know.
Did you file an Employee Retention Credit (ERC) claim, (have yet to receive a refund), and now believe you are not eligible for the ERC refund? The IRS has announced a special withdrawal process for people in this situation. Here are the details.
Did you believe you filed an employee retention credit (ERC) claim in error? The IRS has launched a new voluntary disclosure program that allows businesses to repay 80% of the claimed ERC without interest or penalties. Here are the requirements.
As part of a proposed bipartisan tax deal, Congress has proposed shortening the deadline to claim the employee retention credit (ERC) to January 31, 2024. Here’s what you should know about the proposal.
Wondering if your claim for the employee retention credit (ERC) is legitimate? The IRS is alerting employers to watch out for 7 warning signs that your claim may be questionable and to take action by March 22, 2024 to resolve any issues. Read on.
The IRS has announced as of August 2024 that they will be speeding up payments for legitimate Employee Retention Credit (ERC) claims (filed between September 14, 2023 and January 31, 2024) and continuing to crack down on false claims. Here’s what you should know.
Since the summer of 2023, the IRS has closely scrutinized claims for the COVID-era Employee Retention Tax Credit (ERTC) to root out fraud. Now Congress has joined the effort with the recently enacted One Big Beautiful Bill Act.
As they’ve promised, the IRS is stepping up enforcement of ERC claims and sending out examination letters to companies who claimed ERC credits in 2020 and 2021. Wondering what information the IRS is looking for if your company is selected for examination? We have the details here.
The IRS has announced it expects to deny thousands of improper high-risk ERC claims. This is part of their wider efforts to process lower risk claims to assist eligible taxpayers. Read on.
The IRS is advising employers to be aware of five new warning signs that might indicate a questionable claim. Here’s what you should look out for.
Do you believe you filed a claim for the employee retention credit (ERC) in error? The IRS has announced it will reopen the voluntary disclosure program, allowing businesses to fix claims at a discount. Read on.
Employers, you’ll want to read up on recent guidance from the IRS on the employee retention credit or ERC.
Attention employers…you will want to read up on some important reminders to keep in mind when preparing your employment tax returns and claiming credits.
The IRS has released its annual “dirty dozen tax scams” list…what should you watch out for in 2023 and beyond? Scams include employee retention credit (ERC) schemes, phishing scams and more.
As the IRS begins stepping up enforcement of ERC claims, they just released a Memo detailing the IRS’ position on the use of supply chain disruptions as a basis for claiming Employee Retention Credits. We have the details here.
Attention taxpayers…there is a wide-ranging tax bill in the works with proposed changes to the employee retention credit, research and experimental costs, the child tax credit, bonus depreciation and more. Here’s a look inside what could potentially be on the horizon.
Taxpayers…have you been urged to file a claim for the “self-employment tax credit” which will result in a large refund? This is likely too good to be true. Here’s how to protect yourself.
Looking for the latest and greatest blog posts on the Tax Cuts and Jobs Act, employee benefit plans, hospitality matters and more? Look no further!
Does your restaurant have the right insurance policies in place? There are at least four types of insurance that all food service employers should implement in their businesses.
By paying for the costs of an employee’s education, employers can invest in their workforce while reducing income subject to tax.
Manufacturers, read up on potential changes to business & international taxes under the two major presidential candidates’ proposals.
A clean desk post tax-season is helpful, but make sure you are holding on to certain records for the required amount of years.
The TCJA, cyber risks, donor advised funds and executive compensation excise taxes have all made quite a mark on the nonprofit scene of late. See what 2019 and beyond looks like for NFPs.
A clean desk in the New Year is helpful, but make sure you are holding on to certain records for the required amount of years.
The latest response to the coronavirus outbreak is the Coronavirus Aid, Relief, and Economic Security or CARES Act. How exactly will this impact the tax exempt sector?
The CARES (Coronavirus Aid, Relief, and Economic Security Act) offers many provisions to assist companies impacted by the COVID-19 pandemic.
A clean desk after tax season is helpful, but make sure you are holding on to certain records for the required amount of years.
Congress has passed the nearly 5,600-page Consolidated Appropriations Act for 2021 and President Trump signed the bill into law last night. The bill includes $900 billion of new economic relief in response to the ongoing COVID-19 crisis. The bill is to provide the following items of relief for both individuals and businesses:
Is your organization applying for the second round of Paycheck Protection Program (PPP2) funding? There are some unique considerations for NFPs. Here are some FAQs.
The recently passed American Rescue Plan Act of 2021 brings much needed financial aid to you and your business. We share the key provisions here.
The recently passed American Rescue Plan includes several changes to unemployment benefits. Here’s what you need to be aware of.
Are you a Government Contractor with a PPP loan and worried about “double-dipping”? If so, let’s take a look at the most recent guidance on how PPP loan forgiveness and government contracts interact.
Have you applied for forgiveness on your First Draw PPP Loan? If the answer is NO, your first payment on your PPP loan is due soon.
Did your business suffer significant revenue loss due to the COVID-19 pandemic? You may be eligible for the Rhode Island Small Business Grant Program. Find out if you’re eligible here.
The manufacturing sector has undergone significant change in the last decade due to supply chain concerns, rising costs, skilled labor shortages, and technological developments. Wondering how you can increase value? Read on.
We sat down with Sandy Ross, Partner and Nonprofit Practice Group Leader to find out what challenges nonprofit leaders are facing as of late and how they’re coping…Here are her top insights.
September 2024 brought a new football season, new per diem rates for business travel, important ERC action items and more. Here are the notable tax updates from September.
The House recently passed a sweeping budget and tax bill that could reshape key aspects of business taxation starting in 2025. Now the Senate is working on a modified version of the bill. Here’s what businesses need to know.
On July 4, President Trump signed into law the wide-ranging budget and tax bill known as the One Big Beautiful Bill Act (OBBBA). Here's what businesses need to know.
Planning to hire, expand, or invest in R&D in 2026? Massachusetts life sciences companies may qualify for the MLSC Tax Incentive Program, designed to support innovation and research.
Learn how nonprofits can navigate the tax implications of deferred compensation and related-organization payments to protect both their executives and their organization.
