American Rescue Plan (ARP) Tax Credits Available to Employers for Paid Leave to Employees Receiving COVID-19 Vaccinations

The Treasury Department and the IRS announced recently that businesses with fewer than 500 employees might be eligible to take tax credits to offset paid leave provided to employees who received the Covid-19 vaccination. Self-employed individuals are similarly eligible to take the credits. The paid leave credits under the ARP are tax credits against the…

New Social Distancing Orders

In early April, the Ohio Department of Health (ODH) Director issued new Orders for Social Distancing, Facial Coverings, and Non-Congregating. The new Order replaces several previous orders. Below a summary of some of the provisions: Restaurant, drinking establishments, and banquet facility tables must be 6 feet apart and seat no more than ten people per…

PROPOSED CHANGES TO THE ESTATE/GIFT TAX

  Senator Bernie Sanders (D-VT) introduced legislation that, if passed, would have a significant impact on the transfer tax system of the United States. The proposed legislation includes the following changes: Estate tax exemptions of $3.5 million Gift tax exemptions of $1 million $20K annual gift tax exclusion 50-year limit on Generation-Skipping trusts (GST) Grantor…