The IRS announced that crucial changes have been made to the Child Tax Credit (CTC) under the American Rescue Plan of 2021 (ARPA) that will help many families receive advance payments, beginning as soon as this summer. ARPA expands the CTC for tax year 2021 only. The IRS has started sending letters to more than… Read more »
Tag: ARPA
Modifications Made to ARPA, 2021
Posted by Jonathan Ieraci & filed under COVID-19, In the News.
The American Rescue Plan Act of 2021 (ARPA), signed by President Biden on March 11, 2021, extended and significantly modified the payroll tax credits for qualifying sick leave and family leave wages. Both Covid-19-related credits were initially provided by the Families First Coronavirus Response Act. In December 2020, the Consolidated Appropriations Act of 2021 extended… Read more »
Payroll Provisions of ARPA
Posted by Jonathan Ieraci & filed under COVID-19, In the News.
What to Know About ARPA The American Rescue Plan, 2021 (ARPA, 2021) was signed by President Biden on March 11, 2021 to address the continuing economic impact the COVID-19 pandemic has had on employers and employees. President Biden signed ARPA, 2021 into law on March 11. The legislation extends and expands provisions found in the… Read more »