The IRS and the Treasury guidance in Notice 2021-49 deals with how various issues apply to the employee retention credit in both 2020 and 2021, amplifying earlier guidance offered earlier this year in Notice 2021-20 and Notice 2021-23. The new notice explains changes made by the American Rescue Plan Act of 2021 to the employee retention credit that are applicable to the third and fourth quarters of 2021.
Gov. Ned Lamont said he would welcome a special legislative session to decide how to respond to the latest wave of the pandemic in Connecticut. Lamont’s latest set of executive orders, including one dictating masks in public schools, expire on Sept. 30.
The IRS issued Notice 2021-49 on August 4th which states that the Employee Retention Credit (ERC), made available for businesses suffering from the COVID-19 crisis, will not be available with respect to wages paid to a majority owner, or such owner’s spouse, if the majority owner has a brother or sister (whether by whole or half-blood), ancestor, or lineal descendant.
Having accountants on the corporate board’s audit committee seems like a no-brainer, and a recent study suggests it helps companies and their investors.
The Department of Revenue Services (DRS) is making sellers of meals aware that they may be eligible for a benefit that was authorized by legislation that was recently enacted by the Connecticut General Assembly. Under this legislation, certain sellers of meals are allowed to retain the sales tax they collect on sales of meals during a specified period of time.
Thalia Smith, a partner at Deloitte, is using her experience as a Black woman in the Big Four to help students looking to break into accounting.
The Federal Accounting Standards Advisory Board released a standard Friday for accounting and financial reporting on government-owned land and delayed the effective date due to the pandemic.
Many in Massachusetts are waiting with bated breath to see whether Governor Charlie Baker will make any coronavirus-related policy changes following new federal guidance this week surrounding mask-wearing.
As claims administrator, Aflac will accept applications, determine eligibility, and administer benefits for paid leave. Individuals will have flexible options to submit applications for paid leave, either online, by email, or by calling directly into a customer care advocate.
The Small Business Administration (SBA) issued new guidance yesterday designed to accelerate the end of the Paycheck Protection Program (PPP) by streamlining the process for millions of small businesses and nonprofit employers to have their emergency payroll loans forgiven.