Eligible employers, such as businesses and tax-exempt organizations with fewer than 500 employees and certain governmental employers, can receive a tax credit for providing paid time off for each employee receiving the vaccine and for any time needed ...
The amount of the credit is 50% of qualifying wages paid up to $10,000 in total. Wages paid after March 12, 2020, and before Jan. 1, 2021, are eligible for the credit. Wages taken into account are not limited to cash payments, but also include a ...
Additionally, the TCJA changed how taxable income is calculated for purposes of the Foreign Tax Credit limitation by disregarding certain expenses and repealing the use of the fair market value method for allocating interest expense.
The IRS has announced that taxpayers with the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC) will likely see delays in receiving their income tax refunds in 2018. This is due to extra fraud prevention measures the agency is implementing, which means that taxpayers with those credits will likely not see […]