Coronavirus (COVID-19) Legislation—Businesses

Coronavirus (COVID-19) Legislation for Businesses. Legislation for Businesses. Recent legislation, such as the Families First Coronavirus Response Act and the Coronavirus, Aid, Relief, and Economic Security (CARES) Act has provided some financial and tax relief for certain taxpayers. The following is a summary of some of the provisions. Filing and Payment Deadline The April 15, […]

New employer tax credit 2020

Who qualifies for which new employer tax credit? Many businesses affected by COVID-19 qualify for tax relief though credits or deferrals.  Here’s a breakdown of which employers qualify for these new tax credits and the deferral of employment tax deposits and payments through Dec. 31, 2020. Credits for paid sick and family leave Businesses and […]

The Earned Income Tax Credit (EITC)

The Earned Income Tax Credit (EITC) has provided a tax break to millions of Americans each year since 1975. The credit was originally established to give low and medium income taxpayers a break on their Social Security taxes while providing an incentive to work. The EITC is often the subject of missed opportunity as the […]