American Rescue Plan Act

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Help for the Connecticut Hospitality Industry

The Connecticut Hospitality Industry Support Program was implemented by the American Rescue Plan Act and allocated $30,000,000 to the Department of Economic and Community Development (DECD). DECD utilized data from the Department of Revenue Services (DRS) to identify two groups of recipients that are eligible for a Connecticut Hospitality Industry Support Grant, based on losses incurred …

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Advance Child Tax Credit Payments

Advance Child Tax Credit Update & Why You May Want to Opt Out

The IRS has started sending letters to over 36 million families who, based on tax returns filed, became eligible to receive monthly child tax credit payments starting July 15. Eligibility is evaluated based the information you provided in your 2019 or 2020 tax returns, or through the Non-Filers tool while registering for an Economic Impact …

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Other Rescue Benefits Outside of Stimulus Checks

When you think back on this spring, you may recall a deposit to your bank account by the federal government (if you were eligible). Economic Impact Payments were a focal point of the American Rescue Plan Act (ARPA), but it contains many other provisions also worth remembering. Here are five highlights: The child tax credit. …

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Can you Benefit from the Enhanced Employee Retention Credit?

Many businesses have had to shut down or reduce operations during the COVID-19 pandemic, causing widespread furloughs and layoffs. Fortunately, employers that have managed to keep workers on payroll may be eligible for a refundable employee retention credit. Three laws have created, extended and enhanced the credit. The Original  The CARES Act created the employee retention …

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All the Latest Tax News You Need to Know (and will likely go out of date before you read it)

There’s nothing like having a ton of changes come down right in the middle of tax season! As you’ve already seen, so many things have happened and changed in the last few weeks, that it is nearly impossible to stay on top of them all. As you may have heard (and as we were writing …

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