This week we look at:

  • IRS makes a major change in computation of excludable ARPA unemployment
  • PPP loan program applications extended for two months - but funds only likely to last until mid-April without replenishment
  • PPE is defined by the IRS to represent medical care for purposes of deducting the expenses

Copyright 2021, Kaplan, Inc.

Direct download: 2021-03-29_IRS_Quietly_Revises_Unemployment_Worksheet.mp3
Category:general -- posted at: 5:23pm EST

This week we look at:

  • IRS releases instructions on reporting ARPA unemployment exclusion
  • AICPA recommends IRS issue clarification on PPP forgiveness/passthrough issues
  • IRS pushes back the filing date for Forms 1040 only - everything else still due on April 15, including Q1 2021 estimates
Direct download: 2021-03-21_Tax_Season_for_1040s_Only_Goes_On_One_More_Month.mp3
Category:general -- posted at: 12:14pm EST

A look at the American Rescue Plan Act of 2021

  • Unemployment exclusion for 2020
  • Recovery Rebate for 2021
  • Prepaid Child Tax Credit for 2021
  • Earned Income Tax Credit Changes
  • Refundable Dependent Care Assistance
  • Sick/Family Leave Credits
  • 2021 Employee Retention Credit
  • Premium Tax Credit Revisions

Copyright 2021, Kaplan, Inc.

Direct download: 2021-03-15_American_Rescue_Plan_Act_of_2021.mp3
Category:general -- posted at: 4:44pm EST

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