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Tax Matters



February 2022

With the start of the tax preparation season for 2021 as well as upcoming 2022 estimates, we would like to draw your attention to recent changes as well as expired tax provisions for businesses and individuals.

January 2022

The Employee Retention Credit was originally extended through the end of 2021 under the American Rescue Plan Act. However, the Infrastructure Investment and Jobs Act enacted on November 15th, 2021, amended Section 3134 of the Internal Revenue Code and terminated the Employee Retention Credit as of September 30th, 2021. 


November 2021
On November 15, 2021, President Biden signed into law the Infrastructure Investment and Jobs Act (“Infrastructure Bill”).

November 2021
Taxpayers should consider the effects of the decreasing bonus depreciation rates when finalizing their internal budgets and projections for tax year 2022.

May 2021
The new American Rescue Plan Act of 2021, enacted in March 2021, renews further the possibility for employers to voluntarily extend the Emergency Paid Sick Leave and Emergency Family Medical Leave through September 30, 2021.

April 2021
This week, Florida’s governor signed Senate Bill 50 into law.  This law requires remote sellers and marketplace providers with no physical presence in Florida to begin collecting sales tax if their taxable sales to Florida customers in the prior calendar year exceeded $100,000.  The requirement is effective July 1, 2021.

Interaction between PPP Loans and Employee Retention Credit

March 2021

Further, the Employee Retention Credit was extended again through the end of 2021 via the American Rescue Plan Act.

State and Local Tax Update Q1 2021

March 2021

Employee Retention Credit
February 2021
On March 27, 2020, the CARES Act introduced a new Employee Retention Credit available for certain employers subject to a complete or partial government-mandated shutdown or a greater than 50% decline in gross revenue due to COVID-19.

New Announcement on Corporate Tax Benefits

January 2021
We would like to make sure you were aware of some of the provisions of the Consolidated Appropriations Act signed into law on December 27, 2020 which you could benefit from.


Second Round of Paycheck Protection Program Funding

January 2021
As part of the Consolidated Appropriations Act, 2021, $284.5 billion was made available for a second round of Paycheck Protection Program ("PPP") funding.


COVID-Relief Bill Provides Clarity to Businesses while Extending Certain Tax Benefits

December 2020

This weekend President Trump signed the COVID-relief bill recently passed by Congress. While the headlines of the bill include additional cash payments of $600 to most Americans, there are provisions in the bill that will impact business taxpayers as well. The chart provides a summary of the most relevant items in the new law.


Audits of PPP Loans in Excess of $2 Million

November 2020
In addition to completing the PPP forgiveness application, businesses that together with their affiliates received $2 million or more in PPP loans will need to complete one of two new necessity questionnaires.

Negotiated Incentive Agreements during COVID-19
November 2020
Businesses receiving negotiated or discretionary economic incentives (tax abatements, cash grants, land grants, etc) in exchange for a minimum investment and jobs in a community could be at risk of losing these incentives due to the economic downturn caused by COVID.
October 2020

At the beginning of the COVID pandemic, much of the world retreated to the safety of homes, anticipating a short-term crisis. Businesses and their employees are faced with potential tax consequences as the result of decisions made for employees’ safety. Unfortunately, governments have been slow to provide guidance to businesses and employees on how working from a different tax jurisdiction may impact tax liabilities.

Supreme Court Case Regarding Affordable Care Act and Potential Impact on Your Taxes

September 2020

Supreme Court dealing with the constitutionality of the 2010 Affordable Care Act (“ACA”) following the passage of the Tax Cuts and Jobs Act of 2017 (“TCJA”).  The TCJA retained the “individual mandate” but eliminated the related tax penalty.  A lower court found that the individual mandate, as a result, can no longer be justified under Congress’s taxing power. Without it, some or all of the ACA is potentially unconstitutional. The Supreme Court is scheduled to hear oral arguments on November 10, 2020.

September 2020

As previously discussed in Rödl Tax Matters Volume 2020 – 10, on August 8, 2020, President Trump signed a Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster, which directed the Secretary of the Treasury to use his authority to defer the withholding, deposit, and payment of employee Social Security taxes on wages or compensation paid during the period of September 1, 2020, through December 31, 2020.


Presidential Memorandum for Deferring Payroll Tax Obligations

August 2020

On August 8, 2020, President Trump signed a Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster, which directs the Secretary of the Treasury to use his authority to defer the withholding, deposit, and payment of employee Social Security taxes on wages or compensation paid during the period of September 1, 2020, through December 31, 2020.

Paycheck Protection Program Flexibility Act Favorably Modifies the Terms of Loan Forgiveness

June 2020

On Friday, June 5th, the President signed the Paycheck Protection Program Flexibility Act of 2020 modifying the terms of the loan forgiveness for a Paycheck Protection Program ("PPP") loan. The amendments are effective as if included in the CARES Act and apply to any PPP loan. There is welcome relief in the Act providing taxpayers greater flexibility in achieving loan forgiveness.

May 2020
The Paycheck Protection Program has received a lot of attention, particularly given that part of the loan may be forgiven. Another loan program that is part of the recently enacted Coronavirus Aid, Relief, and Economic Security Act of 2020 (the “CARES Act”) may, however, also be of benefit. The “Main Street Lending Program” is intended to provide additional financing for small- and medium-sized businesses impacted by the ongoing COVID-19 pandemic

April 2020
The Paycheck Protection Program (PPP) was created as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act which was signed into law on March 27, 2020.


Transfer Pricing Documentation FAQs
April 2020
In April 2020, the IRS released a list of frequently asked questions (“FAQs”) for transfer pricing documentation best practices

CARES Act Business Provisions

March 2020

Major provisions of the Act affecting business taxpayers are discussed below. More details regarding the specifics of each provision are emerging daily.


One of the key provisions of the CARES Act (the "Act") signed last Friday was the creation of The Paycheck Protection Program ("PPP") which is a loan that companies can apply for at any bank that is a federally insured depository, and will work in conjunction with the Small Business Administration.


COVID-19 "Corona Aid, Relief, and Economic Security Act (CARES Act)"

March 2020

President Trump has signed the new Coronavirus Aid, Relief, and Economic Security Act (CARES Act) into law. Major highlights of the Act are discussed.


COVID-19 Federal Return and Payment Extensions

March 2020

The April 15th deadline for filing tax returns will now be postponed until July 15th.


COVID-19 Tax Impacts - Families First Coronavirus Response Act

March 2020

On March 18, 2020, the President has signed into law the Families First Coronavirus Response Act (H.R. 6201) which provides affected individuals with paid sick and family leave, creates tax credits for affected employers, expands food and nutrition services, allows for emergency state unemployment insurance grants, and increases Medicaid funding to states, among other things.


2019 End-Of-Year State and Local Tax Update 
January 2020
Once again, updates to state and local taxes were very active for the last half of 2019.  Below are details on changes in sales taxes and income taxes that will impact most businesses. More »


New Tax Provision Included in 2020 Budget Deal

December 2019

On December 17th, Congress passed a budget compromise that included numerous tax updates and changes. The President is expected to sign the legislation. More »

UPDATE:  The Medical Device Tax was REPEALED with the 2020 Federal budget agreement passed by Congress on December 17th.  The President is expected to sign this legislation

November 2019 
Businesses importing or manufacturing certain medical devices will be subject to a 2.3% excise tax on gross sales effective January 1, 2020. More »

2019 Mid-Year State and Local Tax Update

July 2019
Tax changes at the state and locallevel have continued their feverish pace in 2018 and 2019. More »

Records Retention Guide for Clients
July 2019

Record retention is very important for every individual and business client. More »


Revised California Sales Tax Collection Requirement effective April 1, 2019

May, 2019

The California Legislature recently passed legislation requiring use tax collection by out of state retailers when sales exceed $500,000 in the preceding or current calendar year. More »

Disallowance of deduction related to qualified transportation fringe

February 2019

Throughout 2014, the IRS has released new versions of the various W-8 series of forms to comply with the Foreign Account Tax Compliance Act ("FATCA") which generally went into effect on July 1, 2014. More »

Bureau of Economic Analysis ("BEA") Investment Surveys – Reporting Requirements

January 2019

The Bureau of Economic Analysis (BEA) prepares official U.S. economic statistics to provide timely, accurate, and relevant economic information that helps gauge the performance of the U.S. economy and the role of the United States in the global economy. More »


The “Opportunity” in Opportunity Zone

December 2018
The Tax Cuts and Jobs Act created a new Opportunity Zone program that may provide tax benefits for taxpayers investing in “qualified opportunity funds.” The IRS recently issued proposed regulations and a draft Form 8996 that answer many, but not all, questions surrounding this potentially very significant tax benefit. More »

Partnership Audit Rules Update

December 2018

Changes to the partnership audit regulations are effective for tax years beginning in 2018. This alert is intended as a reminder of required or recommended actions and related considerations. More »


New Section 83(i) Election Provides Income Deferral for Certain Stock Option and Restricted Stock Transactions


Changes to Meal and Entertainment Expenses under Tax Reform


Sales Tax Compliance after the Wayfair Decision

As communicated earlier this year, the Supreme Court’s decision in South Dakota vs. Wayfair, Inc. has been eagerly-awaited with the potential to affect millions of U.S. businesses. More »


How to Know if the Knock on Your Door is Actually Someone from the IRS
November 2017

Unfortunately, many scams today involve people impersonating the IRS. More »

Introducing Sales Tax Outsourcing Services

August 2017

With states becoming more aggressive in targeting out-of-state businesses for sales tax compliance and reporting, Rӧdl & Partner has responded to clients' requests for seamless processing of sales tax obligations to meet their business needs. More »

Partners are not Employees of a Partnership

July 2017

Several articles have come out in the past year addressing the issue of whether a partner in a partnership may be treated as an employee of the partnership. More »


Giving up U.S. Citizenship or Terminating Long-Term Residency
June 2016

A U.S. citizen who gives up U.S. citizenship or a long-term U.S. resident who gives up his or her residency status and who is a covered expatriate is subject to a mark-to-market rule. More » 


Claiming U.S. Non-Resident Status When Holding a U.S. Green Card
August 2015

Many individual taxpayers have applied for and received status as a U.S. Permanent Resident, commonly referred to as a "Green Card Holder". More »

Foreign Account Tax Compliance Act Overview

January 2015

After June 30, 2014, in addition to the withholding obligations under chapter 3, U.S. withholding agents must generally withhold 30% on U.S. source fixed or determinable annual or periodic income, such as dividends and interest, paid to a foreign financial institution or nonfinancial foreign entity unless the agent can reliably associate the payment with valid documentation that establishes that the payment is not subject to withholding. More »


Compliance with the Various W-8 Series of Forms – Completing the Form
October 2014

Throughout 2014, the IRS has released new versions of the various W-8 series of forms to comply with the Foreign Account Tax Compliance Act ("FATCA") which generally went into effect on July 1, 2014. More »


Compliance with the Various W-8 Series of Forms - Requesting the Form

October 2014

Must I obtain Form W-8? What if I have existing Forms W-8? Do I need to obtain the revised Form W-8? When does the form expire? More »


Offshore Voluntary Disclosure Program and Streamlined Filing Compliance Procedures

August 2014

On June 18, 2014, the IRS announced a continuation of the 2012 Offshore Voluntary Disclosure Program ("2012 OVDP"), but modified many of the terms of the program. More »


Fixed Asset Tax Review Services

June 2014

A Fixed Asset Tax Review analyzes capital expenditures during the current year to determine the appropriate tax treatment while seeking to maximize current year tax deductions and credits. More »


Tax Payment Options for Foreign Individuals and Businesses without an U.S. Bank Account

April 2014

International taxpayers who do not have a U.S. bank account may follow the instructions below to transfer funds from their foreign bank account directly to the Internal Revenue Service for payment of their individual or business tax liabilities. More » 


Research and Development Tax Credits: Qualifying Requirements

March 2014

Federal and state credits are available to organizations that increase their research and development activities above a certain base amount. More » 


FATCA: It’s not just for Financial Institutions
June 2013

In 2010, Congress enacted the Foreign Account Tax Compliance Act, known as FATCA. More »

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