The Employee Retention Credit (ERC) is an $80 billion dollars tax savings program that promises financial relief for hundreds of thousands of small and medium businesses as well as tax-exempt entities. The ERC, as part of the CARES Act offers tax credits to encourage employers to retain employees at the height of the COVID-19 pandemic...Read More
The American Rescue Plan was enacted in response to the families, workers and employers impacted by the ravages of the COVID-19 pandemic. In this article, we’ll highlight those elements of the Plan that are most likely to deliver meaningful relief for readers of the Pearson Perspective.Read More
Millions of American taxpayers are clamoring for an answer … “Where’s my refund?” Lack of a definitive answer is further exacerbated by not knowing what’s the delay, when will it be resolved and how to get answers for help from the agency.Read More
In the January issue of The Pearson Perspective we addressed the lament voiced by many 2019 taxpayers … “Where’s My Refund?” Taxpayer frustrations are largely due to pandemic related moves by the IRS to defer tax deadlines as well as changes in penalties and interest for late-filers.Read More
We all know the frustrations induced by unintended consequences … especially when it impacts our pocketbooks. Well that’s the backdrop to the current stress experienced by many taxpayers who continue to lament – “Where’s my refund?!”Read More
Working from home (WFH) now has become a dominant reality for many American workers. You may be one of the approximately 45 million persons working from home full-time … or know a relative, friend or professional colleague who are among the 42 percent of the U.S. labor force doing so.Read More
Early last August, President Trump directed Treasury Secretary Steven Mnuchin to permit employers to temporarily suspend the collection of employees’ shares of Social Security payroll taxes … equal to 6.2 percent of the compensation of eligible employees.Read More
Nearly every American has been directly affected by the original $2.2- trillion stimulus package provided for earlier this year as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The financial relief terms and benefits expired and are awaiting further Congressional action.Read More
Earlier this year, we reported that President Trump signed the SECURE Act into law raising the Required Minimum Distribution (RMD) age to 72 from 70½ . That proved to be a boon for taxpayers who can afford to delay IRA withdrawals. Delaying receipt of the RMD until age 72 significantly reduced taxable income for many...Read More
Business owners and managers, you are well aware of the Paycheck Protection Program (PPP) and perhaps are participating as borrowers. Well there have been significant changes effective last week that liberalizes several key provisions of the program as originally approved by Congress.Read More
