Federal Tax News

1. Advance child tax credit (CTC) payment recipients can still opt out even if they start receiving payments. The IRS began sending out payments or depositing them in bank accounts on July 15. The IRS announced that families can use its Child Tax Credit Update Portal to opt out of remaining payments. Any updates made by…

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Nisivoccia Presents: Financial Market Update & Latest Trends Making Headlines

On Friday, April 23, 2021, Nisivoccia hosted the second feature in our Nisivoccia Presents webinar series. This series is designed to provide clients and friends with insightful, educational and informative content as a part of our continued efforts to help businesses succeed. Our second webinar of the series featured Wealth Management Advisor for Nisivoccia Wealth,…

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PPP Deadline Extension plus Other Program Updates

The PPP Extension Act of 2021 has been formally signed by President Biden, which extends the Paycheck Protection Program through May 31, 2021. The program, originally scheduled to expire on March 31, 2021, will continue accepting applications until May 31, 2021. We would like to note that May 31, 2021 is Monday, Memorial day so applications…

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PPP Application Deadline is March 31, 2021

For those who are still planning on applying for the second round funding of the PPP program, the deadline remains March 31, 2021. Although there is a bill currently in Congress to extend the application period, it is best to plan accordingly and complete your application with the March 31 date in mind. We will…

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The American Rescue Plan Act Tax Implications

President Joe Biden signed into law the American Rescue Plan Act (H.R. 1319) on March 11, 2021. Among the act’s many provisions are several tax items including the tax treatment of 2020 unemployment benefits, the phaseout ranges for economic impact payments, and the treatment of student loan debt forgiveness were changed by the Senate. Below…

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Biden-Harris Administration Announces Changes to PPP

In an effort to target smaller businesses, the Biden administration abruptly changed crucial rules to the Paycheck Protection Program (PPP). It is intended to help the smallest and neediest companies, which have sometimes struggled to obtain aid from the federal relief effort.   What are the five changes to the Paycheck Protection Program?   1.…

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Nisivoccia Employees Speak at Centenary University Career Focus Event

centenary university logo

On February 10, John Christian, Amanda Garris, Courtney Weingarten, and Halle Cannon spoke at a virtual career development event hosted by Centenary University. Centenary University runs a Career Focus Zoom series, where students are introduced to real world professionals in their field. Amanda, Courtney, and Halle are all graduates of CU. Nisivoccia employees spoke with accounting…

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Nisivoccia Wins ClearlyRated’s 2021 Best of Accounting Award

Nisivoccia is so proud to have won ClearlyRated’s 2021 Best of Accounting® Award for providing superior service to our clients. Award winners have proven to be industry leaders in service quality based on ratings provided by their clients. On average, clients of 2021 Best of Accounting winners are twice as likely to be satisfied than…

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New Jersey Retirement Program

NEW  New Jersey Retirement Program New Jersey has implemented a new law, effective March 2021, requiring New Jersey businesses (both for-profit and non-profit) with at least 25 employees and which have been up and running for 2 years, to provide a retirement plan for their employees. New Jersey will require business owners to either sponsor a…

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