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.
The IRS 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.
Recent COVID relief legislation made several significant enhancements to the premium tax credit, which is a refundable credit that assists individuals and families in paying for health insurance obtained through a Marketplace established under the Affordable Care Act. This letter provides an overview of those changes.
This letter to clients provides a brief summary of the key aspects of the tax provisions in ARPA including tax credits, student loan forgiveness, income exclusions, and assistance programs.
Dear Client: 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. Background: Both Covid-19-related credits were initially provided by the Families First Coronavirus Response …Read More
By: Claudia G. Allen 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 …Read More
ARPA child and dependent care tax credit can include the cost of household services, as long as the cost at least in part goes towards the care of the individual.
ARPA expands the eligibility amount of the child tax credit 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.
Strauss Troy welcomes Julie Hopkins, Bo Howell, and Austin Stevenson. The additions complement the firm’s labor and employment, corporate law, and securities law practice groups.
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.