Blog & Newsroom

On Jan. 1, new rules targeting the origin of electric vehicle battery materials from countries considered hostile to the U.S. went into effect and limited the number of EVs eligible to receive U.S. tax credits.

As we approach the end of 2021, it is important to take a closer look at your tax and financial plans. This year likely brought challenges and disruptions that significantly impacted your personal and financial situation including the continued global pandemic, remote and new hybrid work models, supply chain disruptions and rising inflation.

Now is the time to take a closer look at your current tax strategies to make sure they are still meaningful in today’s world and to take any last-minute steps that could save you tax dollars. While looming tax law changes have not been finalized, many tax planning opportunities still exist! Here are some issues to consider as we approach year-end.

In early June, the Internal Revenue Service started sending letters to families about how they may be able to qualify for monthly Child Tax Credit payments.

The letters are going out to families who may be eligible based on information they included in either their 2019 or 2020 tax return or who used the Non-Filers tool on IRS.gov last year to register for an Economic Impact Payment.

During the COVID-19 pandemic, the need to plan for taxes has become even more important due to all the changes from recently passed coronavirus relief legislation and especially for those businesses seeking forgivable loans through the Paycheck Protection Program (PPP).

While the PPP legislation was designed to help businesses weather the economic storm that many “Stay at Home" orders have created by providing funding to continue to employ workers and, the ramifications of not fully understanding the restrictions for use of these funds could ultimately cause further challenge for business owners.

Business owners and non-profits are strongly urged to reach out to their Zinner & Co. Client Service Team and should feel comfortable accessing information provided by our team of Recovery Specialists, not only in the Paycheck Protection Program (PPP) application process, but also in the proper documentation and accounting for loan proceeds.  

The CARES Act will provide billions of dollars of relief to individuals, businesses, state and local governments, and the health care system.

After extensive negotiations, an agreement was reached on a massive stimulus bill to address the financial and health care crisis resulting from the coronavirus (COVID-19) pandemic.