Thomas E. Bayer

Jul 1, 2024 | onlinelibrary.wiley.com | Thomas E. Bayer |Gottfried J. Palm |Leona Berndt |Hannes Meinert

Since the introduction of synthetic polymers, plastics have set application benchmarks as high-performing materials in almost all aspects of everyday life—from food containers and clothing to medical appliances and construction.1 While advantages including (chemical) resistance, durability, and low cost raised mass production from 1.5 million tons in 1950 to 390 million tons in 2021,2 these features contribute to today's failing disposal and recycling plans for synthetic polymers.3-6 In 2015,...

Sep 26, 2023 | incpas.org | Thomas E. Bayer

Since the beginning of 2023, we have seen an uptick in employers wanting to reconsider whether they qualify for Employee Retention Credit dollars. These clients have been told they qualify under the partial suspension rules. Consistently, we have advised clients interested in pursuing an ERC refund to simply wait. Our thought was to see what we learn from the IRS in the form of new guidance or compliance activities.

Aug 23, 2023 | njcpa.org | Thomas E. Bayer

Employee Retention Credits: What to Know for 2023 and IRS Claim Examinations August 23, 2023 Since its introduction under the CARES Act in March 2020, the Employee Retention Credit (ERC) has significantly impacted many for-profit and not-for-profit employers, large and small.

Jul 25, 2023 | incpas.org | Thomas E. Bayer

As the pandemic is more and more in our rearview mirror, we can’t turn the television or radio on without hearing that there is still an opportunity to take advantage of this $26,000 per employee credit — the Employee Retention Credit (ERC). At the same time, the IRS continues to issue warnings cautioning taxpayers and practitioners alike to beware of aggressive interpretation of the law from promoters (referred to by the IRS as “ERC mills”) regarding this credit.

Jul 12, 2023 | incpas.org | Thomas E. Bayer

Since its introduction under the CARES Act in March 2020, the Employee Retention Credit (ERC) has significantly impacted many for-profit and not-for-profit employers, large and small.