ABA Comments on FASB’s Technical Agenda
ABA submitted a comment letter in which it called on FASB to both prioritize their projects on troubled debt restructurings and goodwill, and asked the board to add several projects to its agenda.
Browsing: Tax credits
Treasury Expands Paid Leave Tax Credit for COVID-19 Vaccinations
To encourage more Americans to get vaccinated against COVID-19, the Treasury Department today announced that it will allow certain eligible employers to claim tax credits for providing paid time off to employees to take a family or household member or certain other individuals to get vaccinated, or to care for a family or household member or certain other individuals recovering from the vaccination.
Online Child Tax Credit Tool Available in Spanish
The Internal Revenue Service released a Spanish-language version of its online tool that helps users determine whether they qualify for the Child Tax Credit and its monthly advance payments.
IRS: Child Tax Credit Recipients Now Able to Submit Direct Deposit Information
Families eligible to receive the expanded child tax credit payments now have the ability to update their bank account information so they can easily receive their payments, the Internal Revenue Service announced today.
IRS Adds Online Tools to Manage Child Tax Credit Payments
The Internal Revenue Service released two new online tools to help manage monthly Child Tax Credit payments, which were authorized under the American Rescue Plan.
IRS Unveils Online Tool for Non-Filers to Facilitate Monthly Child Tax Credit
The Internal Revenue Service has created a new online tool for families that are normally not required to file an income tax return to register for the expanded Child Tax Credit payments, which were authorized by the American Rescue Plan and which will begin to be distributed on July 15.
IRS: Families Eligible for Expanded Child Tax Credit Should File Returns Soon
The Internal Revenue Service today urged all individuals and families who have not yet filed their 2019 or 2020 tax returns to do so as soon as possible so that those who are eligible may begin receiving the expanded Child Tax Credit payments, which were authorized by the American Rescue Plan and which will begin to be distributed on July 15.
ABA Backs Legislation to Extend New Markets Tax Credit
ABA supports bipartisan New Markets Tax Credit Extension Act. “By making NMTC permanent, our nation’s small businesses, investors and community development professionals will have access to the vital resources needed to improve our nation’s communities while generating long-term economic growth,” ABA said.
ABA Joins Coalition Supporting Neighborhood Homes Investment Act
ABA has joined the a broad coalition of finance, fair housing and community development advocates to support the Neighborhood Homes Investment Act, a bipartisan Senate bill, S. 98, introduced by Sens. Ben Cardin (D-Md.) and Rob Portman (R-Ohio).
The Quietly Rising Risk of Climate Change
Regardless of size, banks need a framework for assessing and understanding climate risk.