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Accounting News

ARPA’s Enhancements to the Premium Tax Credit

The premium tax credit (PTC) is a refundable credit that assists individuals and families in paying for health insurance obtained through a Marketplace established under the Affordable Care Act. Recent COVID relief legislation (the 2021 American Rescue Plan Act, or...

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Tax Provisions in the American Rescue Plan Act of 2021

The American Rescue Plan Act of 2021 (ARPA), signed by President Biden on March 11, 2021, is the latest major legislation that provides economic relief and stimulus, both tax and non-tax, during the Covid-19 pandemic. Below are brief summaries of the key aspects of...

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IRS extends additional tax deadlines for individuals to May 17

The IRS has issued a Notice that extends, from April 15 to May 17, additional tax deadlines for individuals. Among other things, the Notice extends the time for filing Federal income tax refund claims due on April 15, 2021, and making IRA and HSA contributions. The...

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SAPWG Exposure Drafts from the 2021 Spring Meeting

The Statutory Accounting Principles Working Group (SAPWG) met virtually in March 2021 in lieu of the NAIC spring meeting.  As a result of the meeting, the following items were presented as exposure drafts and have comment deadlines as noted. We have compiled them...

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SAPWG Adoptions from the 2021 Spring Meeting

The Statutory Accounting Principles Working Group (SAPWG) met virtually in March 2021 in lieu of the NAIC spring meeting.  As a result of the meeting, the following items were adopted and will be effective as of the dates noted. We have compiled them below to help you...

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