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In the midst of other legislation for fiscal year 2020-2021, New York State quietly amended Sections 172-B, 172-E and 172F of the Executive Law, which governs many reporting requirements for charitable tax-exempt organizations. Read more

Tags: COVID

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If you have employees working from home, and you want to transition them back to the workplace as the economy picks up, you may find it's harder than you once thought. For some employees, nervousness about remaining health risks is an impediment — especially for those who haven't been vaccinated.

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Tags: Tax

Fust Charles Chambers New York State Pass Through Tax
On April 19, 2021, New York Governor Andrew Cuomo signed into law the FY 2022 budget, which includes a Pass-Through Entity Tax (“PTET”) election.

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Tags: Tax, Tax Law

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On April 19, 2021, NYS Governor Andrew Cuomo signed into law the FY 2022 budget.

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CARES Act
The latest trends within the NFP Industry

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Tags: COVID

Employee Retention Business Benefits
Over the course of the COVID-19 pandemic, many businesses have had to shut down or reduce operations, causing widespread furloughs and layoffs. Fortunately, employers that have kept workers on their payrolls may be eligible for a refundable employee retention credit. Three laws have created,…

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Tags: COVID, Tax

Temporary Changes to the Child and Dependent Care Credit
The American Rescue Plan Act (ARPA) includes major, but temporary, changes to the longstanding federal income tax child and dependent care credit. The changes are favorable for most taxpayers, except high-income individuals. Here's what you need to know about this credit and how it's changing for…

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Tags: COVID

Fust Charles Chambers warns of potential vaccine scams
As millions of people sign up for COVID-19 vaccines across the United States, dishonest people see yet another opportunity to defraud, cheat or steal from unsuspecting victims. Don't let yourself be swept up in these types of scams. Too often, these con artists make promises that they can't keep,…

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The American Rescue Plan Act (ARPA) significantly liberalizes the rules for the federal child tax credit, which means more money in the pockets of eligible parents this year. However, the liberalizations are only for the 2021 tax year. Here's the story.

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