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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 Aug. 2 will apply to the Aug. 13 payment and all subsequent monthly payments for 2021. Under a recent law, monthly advance CTC payments are being made to families under certain income thresholds. Parents may want to opt out so they receive the entire CTC…
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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 should be submitted by Friday, May 28. The extra time will allow the Small Business Association to process additional applications submitted prior to the new deadline as well as address: Loan application issues including validation error codes Delayed guidance Changes to the loan calculation amount…
Read MoreTax Accountant Opportunity
Consistently ranked as a Best Place to Work in the State of New Jersey, Nisivoccia, a well-established, regional CPA firm, seeks a Tax Accountant to join our team. At Nisivoccia,…
Read MoreFederal Tax News
1. Are you thinking about buying a plug-in electric car or truck? Fortunately, a tax credit is available for qualified vehicles. The base amount of the credit is $2,500 per vehicle. The vehicle…
Read MoreNisivoccia 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…
Read MorePPP 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…
Read MorePPP 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…
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