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IRS Expands Employer Tax Credits For Paid COVID-19 Vaccination Leave | Husch Blackwell LLP

IRS releases data on activities during COVID


The Internal Revenue Service released a
Data Book Thursday highlighting the IRS’s activities this past fiscal year, particularly in response to the pandemic.
During the COVID-19 pandemic, the IRS developed new technology and furnished the equipment needed to allow thousands of its staff to work from home, enabling the IRS to resume processing returns and providing phone assistance to taxpayers. The IRS processed more than 240 million tax returns, and collected nearly $3.5 trillion in federal taxes during the fiscal year, approximately 96% of federal revenue from all sources.
The IRS needed to contend with numerous challenges during the pandemic, including a newly remote workforce and distributing millions multiple rounds of stimulus payments to aid the economy. In the first round, under the CARES Act, the IRS issued 161.9 million Economic Impact Payments, 122.5 million by direct deposit, 35.8 million by check, and nearly 3.6 million by debit card. Under the COVID-Re ....

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Ollie's Bargain (OLLI) Business Model, Loyalty Program Bode Well


Ollie s Bargain (OLLI) Business Model, Loyalty Program Bode Well
Zacks.com
3 hrs ago
Ollie s Bargain Outlet Holdings, Inc.’s OLLI business operating model of “buying cheap and selling cheap”, cost-containment efforts, focus on store productivity and expansion of customer loyalty program Ollie s Army, reinforce its position.
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Ollie s Bargain’s focus on value-driven merchandise assortment positioned it well to capitalize on opportunities in the marketplace and effectively meet consumer demand amid the ongoing pandemic. Ollie s Army continued to be a major sales driver with membership just kept increasing. In fiscal 2020, more than 75% of sales were from Ollie’s Army members, and the company increased its base of loyal members by 13.6% to 11.6 million as of Jan 30, 2021. ....

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6 Biden Stimulus Benefits That Pack the Biggest Punch


6 Biden Stimulus Benefits That Pack the Biggest Punch
Kiplinger
3/12/2021
© Provided by Kiplinger
The American Rescue Plan Act – the massive, $1.9 trillion economic stimulus package that President Biden signed on March 11 – sends a lot of money in many different directions. Almost every American will be impacted in one way or another. But when it comes to providing significant financial relief directly to Americans suffering the most through the COVID-19 pandemic, a lot of the American Rescue Plan s provisions really don t provide a lot of bang for the buck. In other words, they won t necessarily make an immediate and meaningful impact on the financial health of Americans who need help the most. ....

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