The Consolidated Appropriations Act of 2021 (CAA), signed into law on December 27, 2020, includes a temporary rule providing COVID-related relief from certain partial plan terminations for employee benefit plans. Under this provision, a plan is not treated as having a partial plan termination during any plan year which includes the period beginning on March 13, 2020, and ending on March 31, 2021, if the number of active participants covered by the plan on March 31, 2021, is at least 80 percent of the number of active participants covered by the plan on March 13, 2020.
Business Insider recently spoke with Torie Barry, a partner in Bennett Thrasher’s Tax practice, about ways companies can benefit from providing their employees with childcare options during the coronavirus pandemic. She explained how offering this service is not only a great retention tool as it shows a company is willing to invest in its employees, but it also comes with tax benefits.
Bennett Thrasher Senior Manager Chris Edwards recently appeared on a segment of the Atlanta Small Business Network show to discuss the impact that the 2018 tax reform has on small businesses. With tax season underway, Edwards says that some of the biggest changes in the tax code affect C-corporations and pass-through entities
In 2018, Georgia passed House Bill 918 to modify and expand usage of Georgia tax credits, particularly for credits against Georgia payroll tax withholding. Georgia law permits taxpayers to elect to use certain income tax credits, such as the Jobs Tax Credit or Research & Development Tax Credit, against their Georgia payroll tax withholding obligations.
The recent statistics on employee theft is shocking. According to one US source, 75% of employees admit to having stolen at least once from their employer—and employee theft costs a company on average 7% of their annual revenues each year.