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Governor Pritzker Freezes New Tax Credits

Gov. J.B. Pritzker announced Friday he’s freezing the implementation of new business tax credits and calling for legislators to stop changes to the state’s income tax framework to save coronavirus-ravaged Illinois just over half a billion dollars. Outraged Republicans called it “just one more hit”... Read More.

U.S. DEPARTMENT OF THE TREASURY, IRS AND THE U.S. DEPARTMENT OF LABOR ANNOUNCE PLAN TO IMPLEMENT CORONAVIRUS-RELATED PAID LEAVE FOR WORKERS AND TAX CREDITS FOR SMALL AND MIDSIZE BUSINESSES TO SWIFTLY RECOVER THE COST OF PROVIDING CORONAVIRUS-RELATED LEAVE

WASHINGTON, DC – Today the U.S. Treasury Department, Internal Revenue Service and the U.S. Department of Labor announced that small and midsize employers can begin taking advantage of two new refundable payroll tax credits, designed to immediately and fully reimburse them, dollar-for-dollar, for the cost... Read More.