Coronavirus Tax Relief: Treatment of Amounts Paid to Section 170(C) Organizations Under Employer Leave-Based Donation Programs to Aid Victims of the COVID-19 Pandemic

The Department of the Treasury and the Internal Revenue Service have extended the treatment provided in Notice 2020-46 to leave-based donation programs and cash payments in connection with such programs that are made to section 170(c) organizations after December 31, 2020 and before January 1, 2022.┬áSee┬áNotice 2021-42. Under Notice 2020-46, as modified by Notice 2021-42, …

Tax Credits Available for Employers Granting Paid Leave Related to COVID-19 Vaccinations

The American Rescue Plan Act of 2021 (ARP) allows certain businesses (generally, employers with fewer than 500 employees and non-federal governmental employers) to claim refundable tax credits as a reimbursement for the cost of providing paid sick and family leave from April 1, 2021 through September 30, 2021 to their employees due to COVID-19, including …

Tax Tip for Tax-Exempt Hospitals: IRS Relief for the Community Health Needs Assessments Requirements

Recognizing the increased burdens that the COVID-19 pandemic has placed on hospitals, the IRS has relaxed its deadline for meeting the Community Health Needs Assessments (CHNA) requirements per Internal Revenue Code Section 501(r)(3). See Notice 2020-56. To maintain their tax-exempt status, non-profit entities that operate hospitals must meet additional requirements, one of which relates to …

There’s Nothing Like the Feelings of a New Pencil for School: Michigan’s Proposed Tax Holiday for Back-To-School Supplies

House Bills 4824 and 4825 were introduced and referred to the Tax Policy committee early August. These house bills propose what will be, if passed by the Michigan Legislature and signed by the Governor, the only annual tax holiday in Michigan. The proposed tax holiday provides an exemption on certain school supplies from the state …