IRS extends penalty relief for pandemic payroll credits


To continue to allow employers to take immediate advantage of various credits enacted in response to the COVID-19 pandemic, the IRS is permitting eligible employers who pay qualifying wages to retain an amount of the payroll taxes equal to the amount of qualifying wages that they paid, rather than deposit them with the IRS. Monday’s guidance (Notice 2021-24) amplifies guidance issued last year (Notice 2020-22) and provides for penalty relief under Sec. 6656 for an employer’s failure to timely deposit certain employment taxes with the IRS.

Read Full Story…

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest

Leave a Reply

Your email address will not be published. Required fields are marked *

Don’t Be A Stranger…

Just write down some details and our customer success heroes will get back to you in a jiffy!

Contact Info

John Thayer, CPA

Managing Partner

John is an accomplished Tax Partner with 40+ years’ experience.  He personally oversees the preparation of over 1500 annual tax returns.

John received his Bachelor of Business of Administration Degree from the University of Houston where he is an active alumnus.

Areas of Expertise
  • Tax Returns
  • IRS Audit & Negotiations
  • Public & Private  Accounting
  • Corporate Finance
  • Mergers & Acquisitions
  • Medical Practices
  • Business Valuations
  • Bankruptcy Proceedings
  • Litigation Support & Expert Testimony
  • Buy & Sell Agreements
  • Estate & Gift Tax

Frank R. Parrish, III

Audit & Administrative Partner

Frank R. Parrish, III., has more than twenty years of professional experience including over eight years in Big Four public accounting and four years on the PCAOB Global Inspections Team. Having broad European and Southeast Asian insights, Frank has assisted U.S. and foreign based companies in their journey to list on U.S. public markets, M&A and other transactions.  

His passion about the spirit of entrepreneurship and significant experience in SEC reporting, initial public offerings, revenue recognition, lease accounting, internal audit, and business valuations makes him an integral part of our team. 

He has experience in serving both privately and publicly held enterprises, in industries including biotechnology, pharmaceuticals, high tech, oil & gas, construction, manufacturing, software, telecommunications, real estate, broker-dealers and other service industries.

Contact him today to discover what his extensive knowledge can do for you. 

Areas of Expertise
  • Public & Private  Accounting
  • Internal Auditing
  • Corporate Finance
  • The US Generally Accepted Accounting Principles
  • International Financial  Reporting Standards
  • Broker-Dealer Audits
  • Forensic Accounting
  • Business Valuations
  • Real Estate Appraisals

Iqbal Safdar - CPA, FCA

Audit Partner

Iqbal has over 20 years of professional experience in both International and Domestic accounting affairs.  Having served in oil & gas, manufacturing, hospitality, utility & power generation, home building, information technology, construction, private equity funds & brokerage enterprises, his diverse technical knowledge and experience is unmatched.

His extensive portfolio includes privately held as well as publicly-traded clients. He looks forward to adding your success to his repertoire.

Areas of Expertise
  • Public & Private  Accounting & Auditing
  • Internal Auditing
  • Corporate Finance
  • The US Generally Accepted Accounting Principles
  • International Financial  Reporting Standards
  • Anti-Money Laundering Audits
  • Forensic Accounting 

Curt Vaculik, AE  

Tax Principal

Curt is an accomplished tax partner with 15 years of professional experience with strong expertise in healthcare, construction, and real estate.

He graduated from the University of Houston with a BBA in Accounting in 2003. 

Contact him today to discover what his extensive knowledge can do for you.

Areas of Expertise
  • Income tax planning
  • Income tax preparation
  • Choice of entity and business structure planning
  • Tax minimization and credit strategies        
  • Business purchase, sale, or mergers
  • Sale or purchase of real property
  • Property exchanges
  • Lease/Buy analysis
  • Financing alternatives
  • International issues
  • Consolidated returns
  • Tax credits (R & D, work opportunity, earned income, foreign, etc.
  •  Payroll, property and sales tax issues
  • IRS audit representation
  • Estate & Gift Tax