We understand the need for guidance in this rapidly changing time of COVID-19. We’ve created this Coronavirus Resource Center as a place you can look to provide answers on relief legislation, tax and regulatory guidance and impact to the economy.
Information is being updated on an ongoing basis. Please refer to the most recent updates first as earlier posts may be superseded by more recent guidance. As always, please don’t hesitate to contact a LaPorte professional for advice on your unique situation.
(authored by RSM US LLP) Construction firms forced to reduce or cancel operations by jurisdictional order may meet employee retention credit eligibility requirements
(authored by RSM US LLP) The Relief Act made changes on how the Employee Retention Tax Credit works during the first two quarters of 2021.
(authored by RSM US LLP) Notice 2021-20 clarifies retroactive changes made to ERTC and PPP interaction and incorporates several previous frequently asked questions.
Congress extended and expanded certain provisions of the original CARES Act by passing The Consolidated Appropriations Act of 2021 (the 2021 Appropriations Act) in late
(authored by RSM US LLP) Plan sponsor actions to incorporate the provisions of the SECURE and CARES Acts into their plan documents and plan administration.
(authored by RSM US LLP) States may not allow the gross income tax exclusion provided by the federal program, resulting in taxable discharge of indebtedness income.
(authored by RSM US LLP) Our coronavirus white paper has been updated for financial reporting matters related to the Consolidated Appropriations Act, 2021.
(authored by RSM US LLP) The Employee Retention Tax Credit was significantly expanded by the federal relief and stimulus package finalized Dec. 27, 2020.
The Consolidation Appropriations Act, 2021, has extended the Employee Retention Credit (ERC) through July 1, 2021. In addition, the new regulations change which businesses can