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Build Back Better Act (Proposed)2021 Post-Filing Season Update American Rescue Plan Act of 2021

Third Batch of Advance Child Tax Credit Payment Released
The IRS has released the third batch of advance Child Tax Credit (CTC) payment for the month of September. Under the American Rescue Plan, most eligible families have received payments dated July 15 a...

CDFI Fund Awards New Markets Tax Credits Worth $5 Billion
The Treasury Department’s Community Development Financial Institutions Fund (CDFI Fund) has announced New Markets Tax Credits worth $5 billion to create jobs and encourage investment and economic gr...

SBA Enhances COVID Economic Injury Disaster Loan Program
The Small Business Administration (SBA) announced enhancements to the COVID Economic Injury Disaster Loan (EIDL) Program. These enhancements include:increasing the EIDL cap from $500,000 to $2 million...

Telephonic Hearings May Continue to Satisfy Public Approval Requirements for Exempt Bonds
Due to the Coronavirus Disease 2019 (COVID-19) pandemic, the IRS extended until March 31, 2022, the time period during which telephonic hearings may satisfy the public approval requirement for private...

Tax Court Addresses Increase in Petitions Received
The U.S. Tax Court announced that it received more than 26,000 petitions this year. The Tax Court met with various stakeholders, including representatives from the American Bar Association’s Section...

NJ - Economic recovery act and certain other economic development programs revised
Enacted New Jersey legislation revises various corporation business tax credits and incentives that were previously enacted as part of the (Act). The legislation also revises certain other economic de...

NY - Taxpayer’s motion for recusal of ALJ denied due to failure to provide accompanying affidavit
A taxpayer’s motion for recusal of an administrative law judge in a New York State sales and use tax matter was denied because the taxpayer failed to meet the fundamental requirement of an accompany...

PA - Dismissal of untimely appeals affirmed, mailing did not constitute filing
A Pennsylvania trial court’s decision to quash the taxpayers’ property tax appeals on jurisdictional grounds was affirmed because the appeals to the County Board of Assessment Appeals (BOAA) were ...

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