COVID-19

During much of 2020 and 2021, you may have qualified for the Employee Retention Credit (ERC). Lawmakers created this tax credit in response to the COVID-19 pandemic.

With the ERC, you found (or could find) tax credits of up to $26,000 per employee. That’s a lot. With 10 employees, that’s $260,000.

By Jeff Drew at Journal of Accountancy
Updated: December 27, 2020

President Donald Trump on Sunday night signed into law the $900 billion COVID-19 relief bill passed Dec. 21 by Congress.

Key provisions in the bill include:

After months of political bickering, Congress has reached an agreement on an emergency coronavirus relief bill, and the President has said he would sign it. Although not all the details are fully available yet, the following provides a good overview of the provisions affecting individual taxpayers and small businesses.    

Many investors view dividend payouts as a reliable source of income. However, those expecting to receive consistent dividend income may have been surprised to see lower- than-expected dividend payouts following the onset of the coronavirus pandemic, when both market volatility and market declines were extraordinary.