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Build Back Better Act Passes House, Awaiting Senate Approval

On November 19, 2021 the House of Representatives passed the Build Back Better Act (BBA). This version of the act is far different from the original. While there still could be changes as the act moves through the...

Georgia’s Legislature Enacts Pass-through Entity Tax

On May 4, 2021, Governor Kemp signed House Bill 149 into law. The new law makes Georgia the latest state to circumvent the $10,000 SALT deduction limitation that was established with the 2017 Tax Cuts and Jobs Act....

Georgia Extends Tax Deadline

On March 19, 2021, the Georgia Department of Revenue announced that the state of Georgia will automatically extend the 2020 individual income tax filing and payment deadline from April 15, 2021, to May 17, 2021. This...

THE IRS Has Delayed the 2021 Filing Deadline

The IRS has delayed this year's federal tax filing deadline for individuals to May 17, 2021. This change is intended to give taxpayers additional time to meet their tax obligations at a time when many Americans are...

American Rescue Plan Act Signed into Law

On March 11, 2021, the American Rescue Plan Act was signed into law by President Biden. As we previously reported, the Act includes many provisions intended to stimulate the economy including: Stimulus payments ...

Senate Passes American Rescue Plan Act

On March 6, the Senate passed the American Rescue Plan Act of 2021. The $1.9 trillion bill now goes back to the House for expected approval and then will go to President Biden for signature. Legislatures are working...

New Guidance for PPP Borrowers Claiming the Employee Retention Credit

The IRS has issued guidance regarding the Employee Retention Credit (ERC) and the Paycheck Protection Program (PPP). Notice 2021-20 addresses the retroactive changes to the CARES Act resulting from the more recently...

Taxpayer Certainty and Disaster Relief Act - Residential Rental Property

The Taxpayer Certainty and Disaster Tax Relief Act of 2020 (P.L. 116-200), signed into law by President Trump on December 27, 2020, allows a real property trade or business that elects out of the §163(j) business...

Opportunities for Individuals - Consolidated Appropriations Act, 2021

The Consolidated Appropriations Act, 2021 was signed into law on December 27, 2020. The bill is a combination of several Acts that aim to provide economic relief through stimulus payments and extensions of beneficial...

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