Biden’s Tax Plans Outlined in Proposed Budget for 2022
By Zach Wimberger On May 28th, 2021 President Joe Biden’s administration released its budget proposal for 2022. The $6 trillion budget included various provisions for items highlighted during the president’s campaign including infrastructure, social spending, climate, education and research and development. President Biden’s budget also included provisions for the highly discussed and speculated tax reform […]
New York State Individual Tax Update from the Fiscal Year 2021-22 Budget
By Scott Lewis, CPA, MSA On April 19, 2021, New York Governor Cuomo signed the New York State Fiscal Year 2021-22 budget bill. It included several temporary tax increases on individuals and procedural changes on how individual state taxes can be paid through pass-through entities. There are two main provisions in this article that we […]
The American Rescue Plan Act of 2021 (H.R. 1319) – Highlights of Key Measures
By Dama Hergner, CPA On March 11, 2021, President Biden signed into law the latest COVID-19 relief package, The American Rescue Plan Act of 2021 (“the Act”). Congress passed the $1.9 Trillion piece of legislation on March 10 after the House approved the measure by a 220-211 vote. The Act was originally passed by the […]
Earlier Filing Date for New Tax Form 1099-NEC
By Scott Lewis, CPA, MSA 2020 is finally over! Say hello to a hopefully less hectic and a smoother 2021. Before 2020 is completely gone from our rearview mirrors, let us start this year and ensure that all compliance forms are timely filed, some with a NEW EARLIER date of February 1, 2021. We wanted […]