based on wages for business owners to retain staff during the Covid-19 pandemic. It was set at 50% of up to $10,000 in qualifying wages per employee for the last three quarters of 2020. The American Rescue Plan Act extended and expanded the ERC to include up to 70% of $10,000 in qualifying wages per employee per quarter in 2021 for the first three quarters, making it much more lucrative to business owners.
While the IRS has not officially responded to the NAPEO’s letters regarding the ERC, Stohler said the organization has been told that PEOs are not being singled out. Stohler points to the internal processes at the IRS that are largely to blame, even as the IRS works on them. Stohler stressed the IRS’ reliance on paper filings, instead of electronic filings, slows the whole process down, especially for PEOs.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NCAA and Phoenix organizing committee start prepping for 2024 Final Four - Phoenix Business JournalOfficials from the NCAA, along with Arizona Gov. Doug Ducey and Phoenix Mayor Kate Gallego, unveiled the logo of the 2024 Phoenix Final Four, which will be played in Glendale at State Farm Stadium on April 6 and April 8, 2024.
Source: phxbizjournal - 🏆 254. / 63 Read more »
Buck & Rider’s expansion continues in Phoenix metro - Phoenix Business JournalIn mid-December, Buck & Rider will open its second Valley location on the border of Phoenix and Scottsdale at The Shops at Chauncey Ranch retail plaza — and company officials are already looking at another expansion in 2023.
Source: phxbizjournal - 🏆 254. / 63 Read more »
Independent contractor rule could trip up small businesses - Phoenix Business JournalThe Department of Labor is planning a new rule that could have significant implications for businesses employing independent contractors. Here's what businesses need to know.
Source: phxbizjournal - 🏆 254. / 63 Read more »
DraftKings (DKNG) and PGA Tour sportsbook in Scottsdale could be world's busiest - Phoenix Business JournalThe DraftKings sportsbook is being built across Hayden Road from the clubhouse of the Stadium Course at TPC Scottsdale — home of the WM Phoenix Open. DraftKings CEO Jason Robins and PGA Tour Commissioner Jay Monahan were in Scottsdale Dec. 5 to discuss the future of the project.
Source: phxbizjournal - 🏆 254. / 63 Read more »
'American manufacturing is back:' President Biden points to Arizona for manufacturing success - Phoenix Business JournalPresident Joe Biden, Taiwan Semiconductor Manufacturing Co.'s founder Morris Chang and Apple CEO Tim Cook were among the high-profile officials and companies that attended the Asian chipmaker's ceremony in Phoenix where the company unveiled plans to significantly bulk up the project. Spread across multiple factories, the complex could eventually exceed 5 million square feet in size.
Source: phxbizjournal - 🏆 254. / 63 Read more »
Paradise Valley 34 on PropertyShark's 100 priciest ZIPS - Phoenix Business JournalOne lone Arizona ZIP code made PropertyShark's top 100 priciest ZIP codes in the nation — but its median sale price of 2022 is nothing compared to the city that took the No. 1 spot. Here's what real estate insiders have to say about Arizona's high-end home market. lol not true
Source: phxbizjournal - 🏆 254. / 63 Read more »