Loren Ponds, Jorge Castro, and Marc Gerson Quoted on Potential Fourth Coronavirus Relief Bill in Tax Notes
"Practitioners Eye More Credits for Next Potential Coronavirus Bill"
Loren Ponds, Jorge Castro, and Marc Gerson were quoted regarding future coronavirus-related legislation and what tax relief may be included. In a firm webinar, Loren Ponds stated expansions of the earned income, child, and dependent care tax credits could be a part of future legislation.
Jorge Castro noted that while the employee retention credit was one of the pricier provisions in the CARES Act, it was unclear which employers would qualify and he expects further clarification from the IRS.
Marc Gerson stated the tax provisions in the CARES Act were on par with expectations and added future legislation "may include more targeted tax relief provisions that are aimed at particular industries."