Main Street Practitioner Blog

IRS to recalculate taxes on unemployment benefits

April 1, 2021


The IRS has announced that it will automatically refund money to taxpayers who reported unemployment compensation in their tax return before the recent changes made by the American Rescue Plan signed on March 11, 2021.

The American Rescue Plan allows taxpayers earning less than $150,000 in modified adjusted gross income to exclude unemployment compensation up to $20,400 if married filing jointly and $10,200 for other taxpayers. The legislation only applies to 2020 unemployment benefits.

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Biden Signs PPP Extension Act Into Law, Moving Application Deadline to May 31

March 30, 2021


President Biden on March 30 signed into the law the bipartisan Paycheck Protection Program (PPP) Extension Act of 2021 (HR 1799), which moves the application deadline to May 31, 2021. The PPP application window was originally set to expire the next day on March 31.

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IRS extends additional tax deadlines for individuals to May 17

March 29, 2021


The IRS issued Notice 2021-21, stating that individuals now have until May 17, 2021, to meet additional deadlines such as making IRA contributions and filing certain claims for a refund.

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Emerging Leaders Program

March 23, 2021


The Emerging Leaders Program was created to provide a member service for future leadership within NSA and to develop a strong pipeline of leaders for our great organization. This program has been developed with a look to the future and to help create a smooth transition to a new Board structure but also to ensure a strong board for years to come.

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SBA Announces April 8 Opening for Shuttered Venue Operators Grant (SVOG) Program

March 19, 2021


The U.S. Small Business Administration (SBA) has announced an April 8 opening date for accepting Shuttered Venue Operators Grant (SVOG) applications. 

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