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Bob Scott

Bob Scott

IRS Provides Gross Receipts Safe Harbor

 A safe harbor has been issued that allows employers to exclude three categories of revenue from gross receipts for determining eligibility for the Employee Retention Credit. The action was taken this week by the Internal Revenue Service which issued Revenue Procedure 2021-33 PDF 

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Gusto Takes in $175 Million

Gusto has received $175 million in Series E funding. The payroll software company described the use of proceeds as helping it “accelerate our impact for the customers we serve." The latest round was led by T. Rowe Price Associates.

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Bloomberg Buys Tax Prodigy

The Bloomberg Industry Group has acquired Tax Prodigy, a step that enables it to enter the tax provisioning market. Terms were not disclosed.

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