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In the waning hours of the 2021 Legislative Session, the Kentucky General Assembly passed Senate Bill 5 in an effort to shield business and premises owners from potential claims arising from COVID-19. The Bill became law on April 11, 2021, after Governor Andy Beshear failed to sign or veto it within ten days of passage.
James D. Houston has been selected as a member of the Federation of Defense & Corporate Counsel, an international organization of civil defense attorneys who are recognized leaders in the legal community.
Strauss Troy attorney Kenneth Kinder II and his wife, Michelle, have endowed a scholarship at Northern Kentucky University Chase College of Law for students from Eastern Kentucky. The Kenneth H. And Michelle R. Kinder II Endowed Scholarship for Eastern Kentucky will be awarded on the basis of high academic promise to students from any of 11 Eastern Kentucky Counties, with a preference for students interested in tax law, estate planning law, or entrepreneurship law.
The Internal Revenue Service has issued guidance on the Unemployment Exclusion. For those who have already filed taxes for 2020, there is no need to amend your 202 return. Click for more information from the IRS.
The premium tax credit (PTC) is a refundable credit that assists individuals and families in paying for health insurance obtained through a Marketplace established under the Affordable Care Act. Recent COVID relief legislation (the 2021 American Rescue Plan Act, or ARPA) made several significant enhancements to this credit. Here is an overview of these changes.
The American Rescue Plan Act of 2021 (ARPA), signed by President Biden on March 11, 2021, is the latest major legislation that provides economic relief and stimulus, both tax and non-tax, during the Covid-19 pandemic.Below are brief summaries of the key aspects of the tax provisions in ARPA.
The American Rescue Plan Act of 2021 (ARPA), signed by President Biden on March 11, 2021, extended and significantly modified the payroll tax credits for qualifying sick leave and family leave wages. Below is a summary of the key provisions.
The American Rescue Plan Act (ARPA) enacted March 11 includes a substantial increase in the limits for dependent care under Flexible Spending Plans (Section 125 cafeteria plans) as well as increasing the tax credit for child care for calendar year 2021. Combined with the flexibility to make changes to plan elections mid-year, the increase will offer significant tax relief to those incurring high dependent care costs.
I am writing to let you know about improvements made by the American Rescue Plan Act (ARPA) to the child and dependent care tax credit for the 2021 tax year, i.e., the credit available for expenses a taxpayer pays for the care of qualifying individual(s) under the age of 13 so that the taxpayer can be gainfully employed.
I am writing to let you know about the significant enhancements made to the child tax credit (CTC) by the American Rescue Plan Act of 2021 (ARPA). These enhancements temporarily expand the eligibility for, and the amount of, the child tax credit (CTC) for tax years beginning in 2021 and require IRS to make monthly advance payments of the credit to taxpayers in July through December of 2021.Under pre-ARPA law, the CTC was $2,000 per "qualifying child."
Strauss Troy welcomes Julie Hopkins, Bo Howell, and Austin Stevenson to the firm. The additions will complement Strauss Troy's labor and employment, corporate law and securities law practice areas.
The Ohio Department of Taxation (ODT) is warning Ohioans who may be victims of unemployment fraud to report the suspected fraud or potentially face higher taxes.The Ohio Department of Job and Family Services (ODJFS) has identified more than 80,000 cases of unemployment fraud by criminals using stolen identities.Victims of that identity theft who have received Form 1099-G from ODJFS showing that they received unemployment benefits – but never applied for benefits – could potentially pay federal and state tax on that unreceived benefit if they don’t act to correct the record.
