The Inflation Reduction Act included a number of items for businesses, but what about individual taxpayers? Overall, the Inflation Reduction Act included a number of credit updates and other extensions that affect individuals.
President Joe Biden signed the budget reconciliation bill H.R. 5376 into law Tuesday, August 16, 2022. Better known as the Inflation Reduction Act, the bill includes a number of tax provisions that may affect your business.
We’re not going far - you can find us across the street in the south end of the Crocker Park shopping center at the corner of Main Street and American Blvd. Connected to the building is a parking garage where you can park for free and enter our new building without ever needing to brave the Northeast Ohio winter weather. As our plans solidify over the coming weeks, we’ll keep you updated right here.
Growing the Corrigan Krause team and promoting our professionals allows us to build the strongest and most effective team for our clients. During this unique and challenging year, our team more than rose to the challenge, working together to keep our clients informed and up to date on financial and legislative changes. A number of our professionals developed their skills and earned a much deserved promotion.
Updated December 2021: Over the past fourteen months, the employee retention tax credit has undergone a number of changes since it was initially introduced. The most current information is in the Current Employee Retention Tax Credit Standards: American Rescue Plan Act – March 2021 section, but we recommend reading everything below to understand the full picture of the employee retention tax credit.