JL CPA & CO.

Big Moment For Student Loan Forgiveness Is Just Around The Corner
The saga of President Biden’s signature one-time student loan forgiveness initiative is about to enter the next phase, as the Supreme Court prepares to hear oral arguments next week to decide the fate of the program.
Last year, Biden announced an unprecedented one-time initiative to enact mass student loan forgiveness. Under the program, up to 40 million borrowers could receive up to $20,000 in cancellation of government-owned federal student loans. Over 26 million borrowers had applied for debt relief, and over 16 million were approved, before federal courts shut down the initiative last fall in response to multiple legal challenges.

Employee Retention Credit (ERC)
The Employee Retention Credit (ERC) is a refundable tax credit for businesses that continued to pay employees while shut down due to the COVID-19 pandemic or had significant declines in gross receipts from March 13, 2020 to Dec. 31, 2021. Eligible employers can claim the ERC on an original or adjusted employment tax return for a period within those dates.The Employee Retention Credit (ERC) is a refundable tax credit for businesses that continued to pay employees while shut down due to the COVID-19 pandemic or had significant declines in gross receipts from March 13, 2020 to Dec. 31, 2021. Eligible employers can claim the ERC on an original or adjusted employment tax return for a period within those dates.

Employee Retention Credit | Internal Revenue Service The Employee Retention Credit is a refundable tax credit against certain employment taxes equal to 50% of the qualified wages an eligible employer pays to employees after March 12, 2020, and before January 1, 2021.

Disaster area tax extensions
Disaster relief for California, Alabama and Georgia storms:
Disaster-area taxpayers in most of California and parts of Alabama and Georgia now have until Oct. 16, 2023, to file various federal individual and business tax returns and make tax payments. Previously, the deadline had been postponed to May 15 for these areas. See here for more information.

IRS: May 15 tax deadline extended to Oct. 16 for disaster area taxpayers in California, Alabama and Georgia | Internal Revenue Service IR-2023-33, Feb. 24, 2023 — Disaster-area taxpayers in most of California and parts of Alabama and Georgia now have until Oct. 16, 2023, to file various federal individual and business tax returns and make tax payments, the Internal Revenue Service announced today. Previously, the deadline had bee...

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Tax Tip 2021-159: Small business advertising and marketing costs may be tax deductible Tax Tip 2021-159: Small business advertising and marketing costs may be tax deductible Internal Revenue Service (IRS) sent this bulletin at 10/27/2021 09:11 AM EDT IRS Tax Tips October 27, 2021 Useful Links: IRS.gov Help For Hurricane Victims News Essentials What's Hot News Releases IRS - The Basics...

Tax Tip 2021-144: Taxpayers who aren’t eligible for the child tax credit should look into the credit for other dependents Tax Tip 2021-144: Taxpayers who aren’t eligible for the child tax credit should look into the credit for other dependents Internal Revenue Service (IRS) sent this bulletin at 09/29/2021 10:00 AM EDT IRS Tax Tips September 29, 2021 Useful Links: IRS.gov Help For Hurricane Victims News Essentials Wh...

IR-2021-189: Oct. 15 deadline approaches for taxpayers who requested extensions to file 2020 tax returns IR-2021-189: Oct. 15 deadline approaches for taxpayers who requested extensions to file 2020 tax returns Internal Revenue Service (IRS) sent this bulletin at 09/16/2021 12:09 PM EDT News Essentials The Newsroom Topics IRS Resources Issue Number: IR-2021-189 Inside This Issue Oct. 15 deadline approac...

COVID Tax Tip 2021-137: Here are some key reminders for extension filers COVID Tax Tip 2021-137: Here are some key reminders for extension filers Internal Revenue Service (IRS) sent this bulletin at 09/16/2021 10:47 AM EDT IRS Tax Tips September 16, 2021 Useful Links: IRS.gov Help For Hurricane Victims News Essentials What's Hot News Releases IRS - The Basics IRS Guidanc...

IR-2021-185: New mailing address for some Western states as Fresno, California, paper tax return processing center closes IR-2021-185: New mailing address for some Western states as Fresno, California, paper tax return processing center closes Internal Revenue Service (IRS) sent this bulletin at 09/14/2021 03:03 PM EDT News Essentials The Newsroom Topics IRS Resources Issue Number: IR-2021-185 Inside This Issue New mai...

IR-2021-188: IRS: Families now receiving September Child Tax Credit payments IR-2021-188: IRS: Families now receiving September Child Tax Credit payments Internal Revenue Service (IRS) sent this bulletin at 09/15/2021 03:50 PM EDT IRS Newswire September 15, 2021 News Essentials What's Hot News Releases IRS - The Basics IRS Guidance Media Contacts Facts & Figures Around The N...