Tax Effects of the American Rescue Plan Act

In addition to the $1,400 stimulus payments to many Americans, the American Rescue Plan Act provides many other relief measures, and also some new business tax measures, that should be noted.CPA Practice advisor The American Rescue Plan Act of 2021 (ARPA), enacted by...

Is My Stimulus Payment Taxable?

As millions of people have received stimulus checks over the past year and start to spend their money, some wonder: Is my stimulus payment taxable? The short answer: No. In the somewhat longer words of the IRS: “No, the payment is not income and taxpayers will not owe...

Michigan Small Business Survival Grant Program

The Michigan Small Business Survival Grant will award grants up to $20,000 to eligible businesses that been closed, or up to $15,000 to eligible businesses that have been partially closed or are otherwise open.Grant funds can be used for eligible expenses including...

Highlights of the New Covid Stimulus Law

Stimulus checks are just part of it. Also: more unemployment, PPP, EIDL loans, Employee Retention Credit, EIC, CTC, Eviction moratorium, and more.Tax Practice Advisor The Coronavirus Response and Relief Supplemental Appropriations Act of 2021 is a $900B relief package...