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IRS FAQs Provide More Guidance on Employee Retention Credit for Employers Using Third Party Payers

By Joseph Sullivan and S. Michael Chittenden on Posted in CARES Act, Employment Taxes, IRS
On April 29, the IRS released extensive new guidance in the form of frequently asked questions (“FAQs”) on the IRS website addressing various aspects of the employee retention credit.  Section 2301(l) of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) instructs Treasury to issue regulations concerning the application of the credit to employers that … Continue Reading

IRS FAQs Address Income and Deduction Issues around Employee Retention Credit

By Joseph Sullivan and S. Michael Chittenden on Posted in CARES Act, Employment Taxes, IRS
Late Wednesday, the IRS released extensive new guidance in the form of frequently asked questions (“FAQs”) on the IRS website addressing various aspects of the employee retention credit.  This is the fourth in a series of articles that will address various aspects of the FAQs.  This article addresses income and deduction issues related to the … Continue Reading

Significant TCJA Guidance Due Before End of Year, Kautter Says

By Joseph Sullivan, Michael M. Lloyd and S. Michael Chittenden on Posted in Employment Taxes, Executive Compensation, IRS, Legislation, Tax Reform
Treasury Assistant Secretary for Tax Policy David Kautter attended the AICPA National Tax Conference on November 13, 2019, and commented that significant TCJA-related guidance should be expected to be released before the end of 2019.  Such guidance is likely to include proposed regulations addressing (1) federal income tax withholding under section 3402, (2) the executive … Continue Reading
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