In this Gorfine, Schiller & Gardyn podcast interview, Matt Keefer, Director of Tax Services at GSG, breaks down everything taxpayers need to know about The Tax Relief for American Families and Workers Act of 2024.
The House Ways and Means Committee recently approved a major bill that will affect many taxpayers, which is the Tax Relief for American Families and Workers Act of 2024.
Designed to provide support to American job creators, small businesses, and working families, this proposed legislation also aims to accelerate the end of the Employee Retention Tax Credit.
While this legislation needs to make its way through the Senate, there are many key points taxpayers need to know about the this policy change, because it impacts a swath of tax situations. You might be impacted by more than one of them.
Following are Matt Keefer’s insights on the proposed law:
- A detailed look at how the Tax Relief for American Families and Workers Act of 2024 offers both business and personal tax relief and provisions. (:35)
- How this new legislation impacts the future of the Employee Retention Credit program. (5:00)
- How the legislation offers disaster relief provisions, as well as changes to the Affordable Housing Credit and a potential increase in the 1099 threshold. (6:00)
We would like to thank Matt for sharing his insights with us. Be sure to visit the GSG Employee Retention Credit resource center for more information. In addition, contact GSG here to if you have more questions about Tax Relief for American Families and Workers Act of 2024.
Categories: Podcast, Emerging Regulations, Tax
