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Lower Gasoline Prices Means Decrease in Optional Standard Mileage Rates for 2021 Wage Base

Posted on December 23, 2020 by

The Internal Revenue Service has announced the optional standard mileage rates for computing the deductible cost of operating an automobile for business, medical, and moving expenses for 2021, and the decrease in rates reflect the decrease in the fixed and variable costs of operating a vehicle.  Effective January 1, 2021, the optional standard mileage rates […]

Paycheck Protection Program Loan Borrowers Will Find Deductions Under the Tree This Holiday Season

Posted on December 22, 2020 by and

On the evening of December 21, 2020 the House and Senate passed the Consolidated Appropriations Act, 2021 (the “Act”), a 5,593 page bill that funds the federal government for the next fiscal year and provides long anticipated COVID-19 pandemic relief to individuals and businesses.  President Trump is expected to sign the legislation shortly. It is […]

FFCRA Not Mandated in 2021, But Optional!

Posted on December 22, 2020 by and

On December 21, 2020, Congress passed the Consolidated Appropriations Act, 2021, which President Trump is expected to sign.  The Act does not extend the Family First Coronavirus Response Act (“FFCRA”).  The FFCRA mandated leave is still set to expire on December 31, 2020. In 2021, covered employers (less than 500 employees) can choose to continue […]

Breaking News! EEOC Issues Vaccine Guidance

Posted on December 16, 2020 by and

Today the EEOC updated its guidance surrounding COVID-19 and vaccinations in the publication titled “What You Should Know About COVID-19 and the ADA, the Rehabilitation Act, and Other EEO Laws.” In its most recent update, the EEOC has added questions and answers to help employers navigate the new COVID-19 vaccine. The questions are added as a new section, Section K. Vaccinations, and include […]

Major Changes Proposed to HIPAA Privacy Rules

Posted on December 15, 2020 by

Late last week, the United States Department of Health and Human Services (HHS), Office for Civil Rights issued a Notice of Proposed Rulemaking (NPR) to make significant revisions to the Health Insurance Portability and Accountability Act of 1996, commonly known as HIPAA.  HIPAA was first enacted in the late 1990s and the health care system […]

Holiday Giving: Will My Gifts Have Tax Consequences?

Posted on December 14, 2020 by

The holiday season is a time of giving! With Christmas arriving next week, you might be rushing to find last minute gifts for the special people in your life. Have you considered potential tax consequences of those gifts? The annual gift exclusion for 2020 is $15,000. This means that an individual donor may gift $15,000 […]

New Guidance on COVID-19 Quarantine Duration

Posted on December 7, 2020 by

On December 2, the CDC updated its guidance for quarantining after exposure to COVID-19. The CDC still recommends a 14-day quarantine as the safest option, however, it has provided two acceptable alternatives to shorten the quarantine period depending on local circumstances and resources. Quarantine can end after 10 days without testing if no symptoms have […]

OSHA Citing for COVID-19 Infractions in the Workplace

Posted on November 30, 2020 by

As Autumn began to descend upon us, the Occupational Safety and Health Administration (OSHA) demonstrated that it will indeed use the General Duty Clause (GDC) to cite employers for health and safety conditions related to COVID-19.  This is a good time to revisit employers’ obligations under the GDC and how a lack of compliance can […]

CMS Releases Key Medicare Figures for 2021

Posted on November 23, 2020 by

The Centers for Medicare and Medicaid Services (“CMS”) recently released key Medicare figures for 2021 that will affect all elderly and disabled individuals who receive program benefits.  This notice summarizes the changes and their impact on various benefits. As is normally the case, Medicare deductibles and premiums have  increased for 2021.  Many deductibles and co-pays […]

IRS Re-Affirms PPP Expenses are Not Tax Deductible

Posted on November 19, 2020 by and

Through the release of a Revenue Ruling and a Revenue Procedure, the IRS re-affirmed its stance that taxpayers may not deduct payments for otherwise deductible business expenses (i.e., payroll, rent, covered utility payments, etc.) if those payments are made using Paycheck Protection Program (PPP) funds and the company “reasonably expects” to have their PPP loan […]