When tax-exempt or non-U.S. taxpayers invest in U.S. businesses, unwanted and unintended U.S. tax obligations can follow without careful planning. Blocker corporations have become a common strategy employed...
Obtaining a Phase I environmental site assessment (ESA) is essential to conducting environmental due diligence for commercial real estate transactions. The goal of a Phase I ESA is to evaluate readily...
Artificial intelligence (AI) tools and resources are inundating the news, social media, professional seminars, and inboxes. AI is part of every conversation across industries and professional services...
Do you need guidance in defending against claims brought under the recently overhauled California's Private Attorneys General Act (PAGA)? Read Private Attorneys General Act in California: Defending...
Confidently present your case in chief to the Trademark Trial and Appeal Board (TTAB) with this opening trial brief that an opposer/petitioner (plaintiff) may use in an opposition or cancellation proceeding...
Many small businesses stayed viable during the pandemic by receiving Paycheck Protection Program (PPP) loans, SBA-backed loans that often do not require repayment. Eligible employers also may be eligible to apply an employee retention tax credit (ERTC) to reduce their tax liabilities where gross receipts for a calendar quarter have declined by a certain percentage as compared to a prior calendar quarter. New guidance under Revenue Procedure 2021-33 provides safe harbor parameters with respect to wages paid after June 30, 2021 and before January 1, 2022. During this time span, an employer may exclude the amount of the forgiveness of a PPP loan and the amount of any ERTC-coordinated grants from its gross receipts in determining eligibility to claim the ERTC for a calendar quarter. This new revenue procedure may affect previously filed ERTC claims or income tax returns.
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