Mar 17, 2021
This special release comes after the signing of the American Rescue Plan Act of 2021 March 11, 2021. The highlights of this bill that are discussed are:
- Individual taxpayer stimulus payments;
- Exclusion of 2020 unemployment compensation from taxable income;
- Changes in Child and Dependent Care Credits;
- Changes in the Child Tax Credit;
- Student Loan Forgiveness is nontaxable;
- SBA Disaster Loan payments are deferred;
- Restaurant Revitalization Fund has been created;
- Paid Sick & Family Leave Credit has been modified and extended; and the
- Employee Retention Credit has been extended.