WebAug 10, 2024 · August 10, 2024 The Treasury and IRS are providing a gross receipts safe harbor for employers seeking to claim the Employee Retention Credit (ERC), allowing the exclusion of certain amounts in determining eligibility for the credit: The amount of the forgiveness of a Paycheck Protection Program (PPP) Loan; WebThe safe harbor explanations modify the safe harbor explanations in Notice 2024-74 to reflect certain legislative changes made after . 6 . October 1, 2024, including: (1) the exception to the 10% additional tax under § 72(t)(1) for qualified birth or adoption distributions, and (2) the increase to age
CFIUS Laws and Guidance U.S. Department of the Treasury
WebOct 1, 2024 · The deduction cannot be claimed unless the losses are at least $100; exceed 10% of the individual’s adjusted gross income; and for taxable years beginning before 2026, are attributable to a federally declared disaster. WebFeb 1, 2024 · This change means that taxpayers with binding construction contracts generally may not apply the 10% safe harbor for determining when the construction began. This may adversely affect projects that started around Sept. 27, 2024, and were completed and placed in service in 2024 or later. richmond american homes chandler az
IRA: Energy Communities and Brownfields Tax Guidance: What …
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