Because of COVID-19, the state tax treatment of unemployment benefits will be a bigger deal than usual when individuals file their state returns for tax…
New Jersey enacted several tax increases as part of a revised Fiscal Year 2021 budget, including: increasing the Millionaire’s tax;extending the 2019 Corporate surtax rate;…
Many states automatically conform to the CARES Act correction reducing the MACRS recovery period of qualified improvement property from 39 years to 15 years. The…
California enacted new exceptions to the worker classification provisions of A.B. 5, Laws 2019. The provisions state when a worker is an employee rather than an…
Form 941-X, Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund, has been significantly revised. The revised Form 941-X allows employers to correct COVID-19…
The Small Business Association (SBA) has said that it began approving PPP loan forgiveness applications on Friday, October 2nd. More than 5 million small- to…
House Democrats have released a new comprehensive relief bill this week. This proposal is a slimmer version of the HEROES Act and include improvements to…