News

On Thursday, January 23rd, the U.S. Supreme Court issued a stay of the nationwide injunction banning enforcement of the BOI filing requirements in the case Texas Top Cop Shop, Inc. v. Garland. Many reports jumped to the conclusion that....

 

Friday, Eldredge & Clark, LLP is proud to announce Taylor A. Stockemer and Kael K. Bowling as the firm’s newest partners. Taylor, a highly accomplished professional with a diverse background in Mergers & Acquisitions, securities and investment banking, and regulatory law and Kael, who serves as litigation counsel to financial institutions, creditors, real estate and construction firms, and other business entities.

Tax News Update: Arkansas Tax Appeals Under New Commission’s Proposed Rules

The Employee Retention Credit (ERC) was created by the CARES Act to encourage employers to keep employees on their payroll during the pandemic. Through subsequent legislation, Congress amended and extended the credit and the availability of certain advance payments of the credits through the end of 2021. Notably, following the subsequent amendments, businesses that received a Paycheck Protection Program (PPP) loan are now eligible to also claim the ERC provided certain qualifications are met.

The Treasury Department and Internal Revenue Service issued the following press release yesterday announcing the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. The IRS will be providing formal guidance in the coming days.