W.E.Allen Consulting,Inc.

The American Recovery and Reinvestment Act of 2009

Updated Nov. 6, 2009: The newly-enacted Worker, Homeownership And Business Assistance Act Of 2009 extends and expands the first-time homebuyer credit. The new law also expands the Net Operating Loss (NOL) provision.

Información en Español

Information for Individuals

Some of the provisions of the law primarily affect individuals.

Information for Businesses

Some of the provisions of the law primarily affect businesses.

  • Making Work Pay Tax Credit. The 2010 withholding rates, contained in Notice 1036, reflect reduced withholding as directed by the ARRA. An optional withholding procedure is available for pension plan administrators.
  • Work Opportunity tax credit. This newly-expanded credit adds returning veterans and “disconnected youth” to the list of new hires covered by the credit that businesses may claim.
  • COBRA: Health Insurance Continuation Subsidy. The IRS has extensive guidance for employers, including an updated Form 941, as well as information for qualifying individuals.
  • Energy Efficiency and Renewable Energy Incentives. See what businesses can do to reap tax rewards.
  • Net Operating Loss Carryback. Small businesses can offset losses by getting refunds on taxes paid up to five years ago. Information on the carryback, an expanded section 179 deduction and other business-related provisions, is now available.  The Worker, Homeownership And Business Assistance Act Of 2009 (WHBAA) further expands the five-year NOL carryback to most businesses.
  • Municipal Bond Programs. There are new ways to finance school construction, energy and other public projects. 

W.E.Allen Consulting,Inc. is powered by WordPress | Entries (RSS) and Comments (RSS)| Partnerprogramm Theme