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Category: Tax planning and law changes

By: Jason Hoffman While New York Gov. Andrew Cuomo signed The Marijuana Regulation and Taxation Act into law March 31, 2021, to legalize the production, distribution, and adult use of marijuana in New York State, there are still more questions than answers at this point about what it means fo Read More

By: Richard Feldman With the passage of the record $212 billion fiscal 2022 New York State budget, there are many changes, extensions and modifications to the state’s tax rates, credits and processes that need to be considered. The Janover tax team has reviewed the tax changes that could im Read More

By: Jason Hoffman The Marijuana Regulation and Taxation Act, which New York Gov. Andrew Cuomo signed into law March 31, 2021, legalized the production, distribution and adult-use of marijuana in New York State. While there are a lot of provisions that need to be reviewed, the Janover Cannabis Read More

By: Mindy Kamen The American Jobs Plan, President Biden’s $2.25 trillion infrastructure plan introduced March 31, is an eight-year program that will allocate nearly $620 billion for transportation projects. It includes $111 billion to replace 100% of the nation’s lead pipes and service li Read More

By: Barry Sunshine, Joe Tancer , and Chris Zingalli The American Rescue Plan Act (ARPA) of 2021 passed Congress and President Biden signed the bill into law on March 12, 2021. The ARPA approves $1.9 trillion in spending for individuals, businesses, governments, and certain industries impa Read More

By: Barry Sunshine, Joe Tancer , and Chris Zingalli Form 1040, Schedule C taxpayers received an updated interim final rule (IFR) on the Paycheck Protection Program (PPP) from the Small Business Association (SBA). The IFR clarifies guidance released on Feb. 22 that made changes to how self-e Read More

By: Barry Sunshine, Joe Tancer and Chris Zingalli The IRS has released additional guidance in Notice 2021-20 on the Employee Retention Tax Credit (ERC) with clarifications on the retroactive changes for expanded eligibility applicable to 2020. Employers who received a Paycheck Protection Prog Read More

Janover LLC  introduces SafeSend Returns™ as our secure electronic delivery method for tax returns. Benefits of using SafeSend Returns™: Receive your tax returns securely without the need to setup an account Accessible across all platforms: computer, smartphone, or tablet Elect Read More

On December 27, 2020, the President signed into law a $900 billion Coronavirus stimulus package.  Included in this bill is a second round of Paycheck Protection Program (PPP) funding, as well as several updates to the first round of PPP funding released with the CARES Act last spring. This l Read More

Payments of Nonemployee Compensation made during calendar year 2020, which were previously reported in Box 7 of Form 1099-Misc, are now required to be reported on Form 1099-NEC. Below are important deadlines for each form: 1099-NEC: must be delivered to recipient by: February 1, 2021; Paper a Read More