New York State is incentivizing hiring within the foodservice industry with a new Return-to-Work Tax Credit for eligible restaurants. Qualifying small businesses will receive a $5,000 tax credit per new hire, up to $50,000 per business.

NYC-based restaurants or those located within designated surrounding areas are eligible for the credit.

Restaurants can claim the tax credits on their 2021 NYS tax returns by demonstrating a hiring increase of full-time employees between the period of 4/1/21 – 12/31/21.

A “Fast Track” option is also available for those looking to receive their credits before year-end. For this option, restaurants must demonstrate a hiring increase of full-time employees between 4/1/21 – 8/31/21.

For more information and to apply, view the NYS Website here.

BEWARE OF THE DIRTY DOZEN!

Earlier this summer, the IRS released its annual “Dirty Dozen” list in a notice to all taxpayers.

This year, the Dirty Dozen was separated into 4 categories: 1) pandemic-related scams, 2) personal information cons, 3) ruses focusing on unsuspecting victims, and 4) schemes that persuade taxpayers into unscrupulous actions.

While the annual Dirty Dozen notice has existed for a while, this year’s addition of pandemic-related scams is important to note, given the recent uptick in fake IRS phishing notices, Child Tax Credit scams, and fraudulent PPP loans.