Compliance Update, First Quarter 2021
2021 National Defense Authorization Act The National Defense Authorization Act was passed by the House on December 8, 2020, and the Senate on December 11,
2021 National Defense Authorization Act The National Defense Authorization Act was passed by the House on December 8, 2020, and the Senate on December 11,
Consolidated Appropriations Act, 2021, Passed – Provides COVID Relief and Other Tax Benefits The Consolidated Appropriations Act, 2021 (“Act”) was signed into law on December
The Internal Revenue Service has announced the standard mileage rates for 2021. The rate will be 56 cents per mile for all business miles driven after December 31,
In response to the concerns related to the expiration of Coronavirus Aid, Relief, and Economic Security Act (CARES Act) Section 4013, lawmakers extended troubled debt
Beginning with the 2020 reporting year, you must report nonemployee compensation (NEC) on the newly created Form 1099-NEC. Generally, if the following four conditions are
SolarWinds Supply-Chain Attack – What you need to know and do! A major breach has been announced concerning network management and monitoring software published by
Deducting Expenses Paid with Paycheck Protection Program Funds – Where Do Things Stand? A major question being asked by taxpayers that received funds by participating
Pennsylvania has extended the carryforward period for education credits, due to the pandemic. In the event that a business cannot use education credits during the
New Jersey Corporation Business Tax Surcharge Retroactively Increased Back to 2.5 Percent New Jersey imposes a surtax on its Corporation Business Tax when taxable income
Many community financial institutions have experienced substantial balance sheet growth during 2020, which has largely stemmed from the Paycheck Protection Program, the Money Market Mutual
2021 National Defense Authorization Act The National Defense Authorization Act was passed by the House on December 8, 2020, and the Senate on December 11,
Consolidated Appropriations Act, 2021, Passed – Provides COVID Relief and Other Tax Benefits The Consolidated Appropriations Act, 2021 (“Act”) was signed into law on December
The Internal Revenue Service has announced the standard mileage rates for 2021. The rate will be 56 cents per mile for all business miles driven after December 31,
In response to the concerns related to the expiration of Coronavirus Aid, Relief, and Economic Security Act (CARES Act) Section 4013, lawmakers extended troubled debt
Beginning with the 2020 reporting year, you must report nonemployee compensation (NEC) on the newly created Form 1099-NEC. Generally, if the following four conditions are
SolarWinds Supply-Chain Attack – What you need to know and do! A major breach has been announced concerning network management and monitoring software published by
Deducting Expenses Paid with Paycheck Protection Program Funds – Where Do Things Stand? A major question being asked by taxpayers that received funds by participating
Pennsylvania has extended the carryforward period for education credits, due to the pandemic. In the event that a business cannot use education credits during the
New Jersey Corporation Business Tax Surcharge Retroactively Increased Back to 2.5 Percent New Jersey imposes a surtax on its Corporation Business Tax when taxable income
Many community financial institutions have experienced substantial balance sheet growth during 2020, which has largely stemmed from the Paycheck Protection Program, the Money Market Mutual
2021 National Defense Authorization Act The National Defense Authorization Act was passed by the House on December 8, 2020, and the Senate on December 11,
Consolidated Appropriations Act, 2021, Passed – Provides COVID Relief and Other Tax Benefits The Consolidated Appropriations Act, 2021 (“Act”) was signed into law on December
The Internal Revenue Service has announced the standard mileage rates for 2021. The rate will be 56 cents per mile for all business miles driven after December 31,
In response to the concerns related to the expiration of Coronavirus Aid, Relief, and Economic Security Act (CARES Act) Section 4013, lawmakers extended troubled debt
Beginning with the 2020 reporting year, you must report nonemployee compensation (NEC) on the newly created Form 1099-NEC. Generally, if the following four conditions are
SolarWinds Supply-Chain Attack – What you need to know and do! A major breach has been announced concerning network management and monitoring software published by
Deducting Expenses Paid with Paycheck Protection Program Funds – Where Do Things Stand? A major question being asked by taxpayers that received funds by participating
Pennsylvania has extended the carryforward period for education credits, due to the pandemic. In the event that a business cannot use education credits during the
New Jersey Corporation Business Tax Surcharge Retroactively Increased Back to 2.5 Percent New Jersey imposes a surtax on its Corporation Business Tax when taxable income
Many community financial institutions have experienced substantial balance sheet growth during 2020, which has largely stemmed from the Paycheck Protection Program, the Money Market Mutual