Deductions deferred despite income inclusion for contingent compensation liability assumption in the year of the asset sale.
Uncertainty about significant tax changes proposed in the Build Back Better bill require attention and action from taxpayers.
The first payment deadline for deferred payroll taxes is quickly approaching and employers should be prepared to make payments.
Senate Finance Committee Build Back Better language largely leaves House Bill unchanged. SALT language omitted as well as billionaires’ tax.
IRS releases Rev. Procs. 2021-48, 2021-49 and 2021-50 to address the treatment of tax-exempt income for PPP loans.
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.
Employers must set compensation policies for remote workers taking into account federal and state tax laws and state legal requirements.