Deductions deferred despite income inclusion for contingent compensation liability assumption in the year of the asset sale.
Senate Finance Committee Build Back Better language largely leaves House Bill unchanged. SALT language omitted as well as billionaires’ tax.
Employers need to react quickly to the new guidance to pay in amounts as if they were incurred on Dec. 31, 2021.
The IRS issued Notice 2021-63, clarifying previous guidance pertaining to the deductibility of food and beverages provided by a restaurant.
Bipartisan infrastructure bill passes House with bipartisan vote. President Biden expected to sign by end of next week.
The IRS has released its annual cost-of-living adjustments for retirement plan limits, effective Jan. 1, 2022.
Employers must set compensation policies for remote workers taking into account federal and state tax laws and state legal requirements.