Last week we posted a High-Level View of the American Rescue Plan video, but this week we wanted to dive a little deeper! We know this is a complex plan that has left many confused and wondering how this applies to their 2020 versus 2021 taxes. So we’re going to tackle that together! To start, let’s look at a few highlights you’ll see explained below: Only 25% of the provisions involve tax changes. Most of these provisions are intended to be in effect for just 2021. The majority of the tax provisions in this act affect 2021. Only one affects the current 2020 […]
All posts tagged: American Rescue Plan
High Level View of the American Rescue Plan Act
High Level View of the American Rescue Plan Act from Blumer CPAs on Vimeo. Transcript: Hey, hey, we wanted to tell you about the American Rescue Plan Act of 2021. There’s a lot of information out there and firms giving information, but we wanted to make a video about it as well. Just a quick video. And really our clients benefit from these videos, but maybe somebody else can too. So when that bill passed, it was huge. It threw a monkey wrench really into this tax season that accountants are trying to file right now. And we’ll get to […]
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