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Navigating the uncertain fates of Build Back Better and key tax issues

Navigating the uncertain fates of Build Back Better and key tax issues

Uncertainty about significant tax changes proposed in the Build Back Better bill require attention and action from taxpayers.
Congress open to considering a pause on automated tax notices

Congress open to considering a pause on automated tax notices

National Taxpayer Advocate, Erin Collins, recommends the IRS pause automated collection notices. Congress may consider the recommendation.
Employer compensation considerations for remote workers

Employer compensation considerations for remote workers

Employers must set compensation policies for remote workers taking into account federal and state tax laws and state legal requirements.
Digital assets targeted for substantial tax hikes

Digital assets targeted for substantial tax hikes

The Ways and Means Committee proposed legislation targeting digital assets to increase tax revenue via wash and constructive sales rules.
Taxpayer Advocate Service struggles with a backlog of cases

Taxpayer Advocate Service struggles with a backlog of cases

Taxpayer Advocate Service is wrestling with a backlog of cases trying to navigate the changing environment of the pandemic.
Operating nonqualified deferred compensation plans FAQs for employers

Operating nonqualified deferred compensation plans FAQs for employers

Throughout a plan’s life cycle, employers should consider whether their plans remain compliant and aligned with the organization’s goals.
IRS issues employee retention credit gross receipt exclusion procedure

IRS issues employee retention credit gross receipt exclusion procedure

Rev. Proc. 2021-33 allows exclusion of PPP, restaurant revitalization and shuttered venue operator grants from ERTC gross receipts test.
SBA formally withdraws loan necessity questionnaire

SBA formally withdraws loan necessity questionnaire

Small Business Administration, in light of lawsuit, notifies PPP lenders that loan necessity questionnaire is withdrawn.
President Biden unveils his American Families Plan

President Biden unveils his American Families Plan

Biden’s plan to grow the middle class, expand economic growth to all Americans and leave the US more competitive funded with tax changes.
Tax aspects of President Biden’s American Job’s Plan

Tax aspects of President Biden’s American Job’s Plan

Washington National Tax summarizes key tax aspects of President Biden’s American Jobs Plan and the Made in America Tax Plan.
ASC 740: Q1 2021 Provision Considerations

ASC 740: Q1 2021 Provision Considerations

A roundup of recent tax law changes and other income tax provision considerations for the first quarter of 2021.
IRS expands filing and payment deadline extension

IRS expands filing and payment deadline extension

This Alert describes and explains the postponement of certain federal tax filing and payment deadlines in IRS Notice 2021-21.
PPP borrowers may need to extend returns and forgiveness applications

PPP borrowers may need to extend returns and forgiveness applications

PPP borrowers, especially fiscal year taxpayers, should consider extending tax returns and delay loan forgiveness filing (unless necessary).
IRS issues additional PPP deductibility guidance with safe harbor

IRS issues additional PPP deductibility guidance with safe harbor

IRS clarifies deduction disallowance for expenses funded by PPP and issues safe harbor for borrowers that forgo or are denied forgiveness.