On August 16, President Biden signed the Inflation Reduction Act (IRA), which includes numerous provisions pertaining to taxes, energy and the environment. The effect of the law on big businesses has received a lot of media attention. For instance, the IRA imposes a new 15% alternative minimum tax on large, profitable corporations. The law also
Tag: payroll tax credit
The CARES Act and Construction: Keeping an Eye on Taxes
Let’s look at three issues that contractors should keep an eye on in light of the CARES Act: payroll, losses and qualified improvement property.
FAQs: CARES Act Employee Retention Tax Credit
The recently enacted CARES Act provides a refundable payroll tax credit for certain employees during the COVID-19 pandemic.