BREAKING NEWS

BMF Akron Office Closure Beginning May 1

Beginning May 1, our Akron Office will be closed to the public for renovations but will remain available to assist you. Contact your BMF Advisor or call 330.762.9785 to speak with someone who can help. We anticipate renovations taking several weeks, so stay tuned for updates!

Search Results

IRS Announces Employee Retention Credit Voluntary Disclosure Program

January 11, 2024

On December 21, 2023, the Internal Revenue Service (“IRS”) unveiled details concerning the Employee Retention Credit Voluntary Disclosure Program (“ERC-VDP”). This program is aimed at taxpayers who mistakenly claimed. Read More

Employee Retention Credit: Be cautious of fraudulent schemes

October 28, 2022

The Employee Retention Credit (ERC) is still a hot topic at networking events, trade organizations and other gatherings for business owners and executives. The ERC is a tax credit,. Read More

IRS Clarifies Guidance on 2021 Employee Retention Credit Termination

December 8, 2021

The Employee Retention Credit (ERC) was enacted under the March 2020 CARES Act to encourage businesses to keep employees on their payroll and was extended to last until the. Read More

Employee Retention Credit: Calculations, Wages, PPP Forgiveness and More – Guidance for Q3 and Beyond

August 20, 2021

The IRS released Notice 2021-49 on August 4, which amplifies and clarifies guidance from the two previous Employee Retention Credit (ERC) Notices (see here, and here) and provides additional. Read More

Employee Retention Credit: Have You Checked Your Eligibility Lately?

July 23, 2021

The Employee Retention Credit (ERC) under the March 2020 CARES Act encourages businesses to keep employees on their payroll. With this credit now extended through the end of 2021,. Read More

Employee Retention Credit – More Guidance Issued for Q1 & Q2 Credits

April 6, 2021

In December, the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (Relief Act) modified the Employee Retention Credit (ERC) and extended the period to the first and second. Read More

Employee Retention Credit Modifications Under the American Rescue Plan

March 17, 2021

Our previous advisors touched on additional clarifications and how to claim the Employee Retention Credit (ERC). With the recent American Rescue Plan Act of 2021 (ARPA), the ERC has. Read More

IRS Releases Additional Guidance for 2020 Employee Retention Credit

March 4, 2021

The Employee Retention Credit (ERC) and Paycheck Protection Program (PPP) were created in the CARES Act under the COVID-19 relief program. Originally, they were separate programs and an employer. Read More

Employee Retention Credit: Claims, Advance Payments and Documentation

February 19, 2021

The Employee Retention Credit (ERC) under the CARES Act encourages businesses to keep employees on their payroll. In 2021, the tax credit is 70% of up to $10,000 in wages. Read More

Consolidated Appropriations Act: Changes to the Employee Retention Tax Credit

January 11, 2021

The Consolidated Appropriations Act, 2021 (CAA) is a $2.3 trillion spending bill that combines $900 billion in stimulus relief for the COVID-19 pandemic in the United States, with a. Read More