Additional financial relief to taxpayers and businesses coping with the impact of COVID-19
With a mix of remote, on-site, shift workers and contracted employees, cyber thieves have more opportunities than ever before.
The New York State 2021-22 budget bill included a new Pass-Through Entity Tax (“PTET”) regime, which is an electable tax on pass-through entities, effective for tax years beginning on or after January 1, 2021. Eligible partnerships and S corporations with a New York filing requirement have the option to pay an entity-level tax at graduated rates.
Did you start a business after February 15, 2020? If you can answer “yes,” you may be eligible for a maximum $50,000 per quarter refundable Employee Retention Credit in Q3 and Q4 of 2021, for a grand total of $100,000.
Rapid changes in the environment in which organizations operate, such as working from home, has created increased risk to their control environments. The COVID-19 pandemic, while affecting day-to-day operations ranging from shutdowns to remote work spaces and more, has created a “perfect storm” of opportunity for fraud, theft, embezzlement and other significant financial crimes.
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