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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.
Ohio Governor Mike DeWine signed House Bill 352 into law on January 12, 2021. House Bill 352, more commonly known as the Employment Law Uniformity Act (“Act”), enacts several important changes that employers should understand. The following highlights some of the changes to Ohio Revised Code Chapter 4112 related to discrimination claims. The Act becomes effective April 15, 2021.
Strauss Troy congratulates attorneys Jessica L. Beauchamp, James D. Houston, Michelle E. Reid, and Matthew J. Worth, who have each been named a Shareholder of the firm. Beauchamp and Worth are members of the firm’s Domestic Relations group, Houston is a member the firm’s litigation group, and Reid is a member of the firm’s Real Estate group.
The successful candidate will preferable have extensive experience examining real estate titles for commercial properties in Ohio and Kentucky.
