Insights

This week, the IRS issued guidance for employers claiming the employee retention tax credit for the first two quarters of 2021.1

Earlier this week, Illinois Gov. J.B. Pritzker signed into law SB1480, which amended the Illinois Human Rights Act (the Act) in a way that will significantly affect how employers deal with employee conviction records.

Earlier this month, President Biden signed into law the American Rescue Plan Act of 2021 (ARPA). ARPA extends by another six months, the reimbursement of paid leave offered by the Families First Coronavirus Response Act (FFCRA) that was scheduled to expire on March 31, 2021. In addition, along with extending unemployment benefits under the CARES Act, ARPA provides a new benefit by providing reimbursement of 100% of COBRA continuing healthcare premiums for eligible individuals, from April 1 through September 30, 2021.  

For a variety of reasons, the solar industry has experienced, and will continue to experience, record growth. According to the Solar Energy Industries Association and Wood Mackenzie, a global energy and chemical research company, the U.S. solar industry grew 43% and installed a record 19.2 gigawatts (GWdc) of capacity in 2020, a pandemic year. Wood Mackenzie further forecasts that the U.S. solar industry will install a cumulative 324 GWdc of new capacity over the next decade.

The IRS announced late last week that the due date for filing 2020 federal individual income tax returns and making 2020 federal individual income tax payments is automatically postponed from April 15, 2021, to May 17, 2021.1

Eligible borrower application deadline is May 31, 2021