From Tragedy To Triumph Back To Tragedy

When you think of this year, what will come to mind? Will it be how the year began, with everything shut down? Will it be the middle, where things began to approach a new normal? Or will it be now, when a new variant is surging, with all of the implications that it...

IRS Backlog Looms As Tax Season Begins

It’s obvious that the IRS is going to begin this tax season in the hole. Many are still waiting on refunds from their 2020 income tax returns. The main reason is that the Service is still working remotely. Also, given the hiring freeze, there are even less...

Tax Programs Slated For Expiration In 2021

There are dozens of tax programs slated to expire on New Years Eve. Many would have been extended if the new administration would have been able to pass the B to the 4th legislation. There are too many to include here, so I’ve chosen those that may have the most...

Season Of Hope, Joy, Love, And Peace

I woke up this morning, and lit a candle. One of the oldest traditions of the German Lutheran Church is that of the Advent Wreath. We light a new candle every Sunday of the Christmas Season, or what in liturgical circles is also known as the Season of Advent. Those...

End of Build Back Better and a New Start For ERC

Senator Joe Manchin (D. W.VA.) announced on a Sunday morning news program that he would not vote for the Build Back Better bill, effectively ending any possibility of the program passing in its current form. In deep sixing the bill, he effectively put an end to all of...

Banks Raise Interest Rates

Earlier this week the Federal Reserve Bank announced it would raise interest rates three times next year beginning in the spring. The Fed is doing this to cool down the economy, in hopes that the increased rates will decrease inflationary pressures on prices. This...

Build Back Better Bill May Be DOA

Washington insiders are now reporting that the B to the 4th might be dead on arrival. This, being the new administration’s first major domestic agenda, would be unusual given the administration’s control of both houses. The primary obstacle to the bill has...

November Inflation Hits 39 Year High

November inflation, as measured by the consumer price index, rose to 6.8%. The last time we had inflation like this was in 1982 at the end of the ’78 – ’81 recession. Strong consumer demand colliding with pandemic related supply constraints drove...

IRS Updates Rules On The Employee Retention Credit

In further guidance issued Monday, the Internal Revenue Service made some much needed changes to rules on the Employee Retention Credit (ERC). They clarified a few things and eliminated potential penalties. Recovery Startup Businesses Can File For The 4th Quarter 2021...

The Small Business Side Of The Build Back Better Bill

The Senate takes up the B to the 4th bill in earnest this week. While Senate leadership is pushing for a vote before the Christmas break, many are saying there’s no way it will pass before next year. While some in the Senate have significant budget concerns,...