The chairman and ranking member of the House Ways and Means Committee on Feb. 22 wrote to IRS Commissioner Charles Rettig about reports that taxpayers are receiving information returns for unemployment benefits that they did not apply for or receive. Rep. Richard Neal (D-MA), the chairman, and Rep. Kevin Brady (R-TX), the ranking member, cited […]
Notice 2021-20, 2021-11; IR 2021-48, 3/1/2021 Not. 2021-20 IR-2021-48 In a Notice and accompanying News Release, IRS has issued guidance for employers claiming the employee retention credit under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), as modified by the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (Relief Act), for calendar quarters […]
American Rescue Plan Act of 2021, as approved by the House Budget Committee House amendments to American Rescue Plan Act The House of Representatives has passed, by a vote of 219-212, the American Rescue Plan Act of 2021, a bill to enact President Biden’s COVID-19 relief package. The bill includes another round of economic impact […]