Independent Joe #71 December 2021/January 2022

 It’s been a long journey since the coronavirus pandemic reached our shores back in early 2020. Over the course of those first few months, governments ordered non-essential businesses shut, indoor dining was banned and people who left their homes were told to wear masks (even for a solitary jog). Houses of worship were ordered…

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President’s Veto Threat A Death Knell for Tax Extenders

In what surprised many observers, a bipartisan compromise bill to re-authorize a number of business-friendly tax credits that had been allowed to expire last year, was likely killed by the White House when the President threatened to veto the compromise legislation.  Most important to many in the QSR industry, the “Tax Increase Prevention Act of…

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Other Ballot Initiatives

As though minimum wage battles at the local, county and state levels were not challenging enough, there were a number of other issues decided on various state and municipal ballots that members should be aware of.  Staying on the west coast for a moment, making headlines on another issue this week, Berkeley, CA voters approved…

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More Details on the Stalled Tax Extender Bill in the US Senate

As we reported before, the Senate last week defeated an effort to quickly advance to the floor the Tax Extender bill, which would restore a number of tax credits and provisions that would benefit small businesses.   The initiative by the Senate’s Democratic leadership was shot down on a party line basis by the Republican minority,…

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Connecticut Kills Proposed Employer Tax

The Connecticut House Committee on Finance Revenue and Bonding defeated an effort to move forward H 5069, An Act Concerning Law Wage Employees, which would have imposed an additional tax on certain employers of lower wage individuals.  This bill, which we reported on to you back in February, would have penalized employers with an additional…

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Missouri Says Cut Taxes, Sort Of

Missouri Democrats this week answered the tax cut question by announcing they have filed their own tax relief bill that will cut taxes for the majority of Missourians – but increase them on “the wealthiest”.  Last year, a tax cut bill passed the legislature but was vetoed as being too favorable to ‘wealthy businesses’ by…

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Recent Developments that May Affect your Tax Situation

From time to time DDIFO is pleased to present Guest Commentary from valued contributors. Guest commentaries feature the views and opinions of the contributor and are not necessarily the opinions of DDIFO and it’s Board of Directors. The following is an article written and submitted by Jim Ventriglia, CPA 145 Phenix Avenue 2nd Floor, Cranston, RI 02920, 401.942.000860.

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New hires complete new Form W-11 to qualify employers for HIRE Act tax breaks

IRS has released Form W-11, Hiring Incentives to Restore Employment (HIRE) Act Employee Affidavit. Newly hired, but formerly unemployed, workers must sign this form (or its equivalent) in order for their new employers to qualify for a payroll tax holiday and possibly an up-to-$1,000 credit under the HIRE Act ( P.L. 111-147 ). DDIFO Members read more…

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