Sworn in amid the ongoing worldwide pandemic and followed by an attack on the Capitol days later, the 117th Congress began its work during a turbulent time in our nation. While their current priority is working with a new administration on additional pandemic relief, a key question for Farm Credit East members is how the new Congress will address the issues facing Northeast agriculture, forest products and commercial fishing.
The American Rescue Plan Act extended the Employee Retention Credit through December 31, 2021. Farm Credit East Senior Tax Consultant Dario Arezzo explains implications for tax planning purposes in this month's Tax Talks.
In this week's blog, Dario Arezzo explains some of the provisions detailed in the Coronavirus Response and Relief Supplemental Appropriations Act of 2021, passed by Congress on December 21 and signed into law by the president on December 27.
One of the major questions for tax planning season has been whether expenses paid with a Paycheck Protection Program loan that is forgiven will be deductible. Senior Tax Consultant Dario Arezzo discusses possible examples and outcomes.