IRS Issues Rules for Recapturing Pandemic-Related Employment Credits
The IRS will treat erroneous refunds of COVID-19-related paid sick and family leave and employee retention credits paid to employers as underpayment of taxes, according to new temporary regulations.
Characterizing Student Athletes as Employees: It’s Complicated
Alexander Reid, partner at the law firm BakerHostetler, discusses issues raised by a memo from the National Labor Relations Board General Counsel, which proposed to classify some college athletes as employees.
IRS Seeks Comments on New Energy Credits
The Department of the Treasury and the IRS have issued six notices asking for public comments on various aspects of extensions and enhancements of energy tax benefits enacted in the Inflation Reduction Act. The credits offer new opportunities for colleges and universities to invest in renewable energy.