Tax relief

The Internal Revenue Service is starting to provide tax refunds to taxpayers who paid taxes on their 2020 unemployment benefits that recent legislation later excluded from taxable income.

Ohio and Missouri judges deny injunctions because those states haven’t yet suffered any harm.

The Institute wants help for businesses facing foreign trade obstacles to maintaining inventory during the pandemic.

The PPP gets most of the headlines, but the ERC helps businesses garner substantial tax savings. Can employers qualify for both programs?

Only 39 percent of employers with fewer than 500 employees are aware of the ERTC and only one in five business owners plans to claim the ERTC.

The Internal Revenue Service is suspending a requirement for taxpayers who received too much on their advance payments for the Premium Tax Credit last year to repay the excess amount.

Dixon Hughes Goodman wants the IRS to provide relief for businesses that are eligible for the 2020 ERC when the tax refunds haven’t yet been received.

The Internal Revenue Service is providing penalty relief for an employer’s failure to deposit employment taxes with the IRS on a timely basis.

Commissioner Charles Rettig left open the possibility that there may be delays.

The service offered information on how to elect to apply an overpayment on 2020 taxes against Q1 2021 estimated taxes, which are still due on April 15.