Archive for August, 2021

Pass-Through Entity Tax

Pass-Through Entity Tax With the passing of Assembly Bill 150 on July 16, 2021, California has created an elective tax that certain pass-thru entities can pay on behalf of their owners. For tax years beginning on or after January 1, 2021 and before January 1, 2026, “qualified entities” can elect to pay an optional tax,… [Read More]

American Rescue Plan: Self-Employed Paid Family and Medical Leave

American Rescue Plan: Self-Employed Paid Family and Medical Leave The American Rescue Plan Act of 2021 extends and modifies COVID-19 self-employment tax credits for paid sick and family leave created under the Families First Coronavirus Response Act and amended by the Coronavirus Aid, Relief, and Economic Security Act. The credits are “equivalent” to those available… [Read More]

PRF distributions: Delayed reporting and new reporting portal

HHS recently opened the Provider Relief Fund Reporting Portal and published a related User Guide and FAQ document.