Quarterly News
July/August | 2021
E.J. Callahan & Associates Updates:
The partners at EJC would like to welcome Christina Saadé as our new Marketing Director. We are also excited to have Ashley Round, and Emilie Fiore as interns here for the summer.

The EJC team was happy to be reunited for our first in-person company-wide event since the pandemic started. Our offices are fully open and we are welcoming clients in-person by appointment. We look forward to hosting future client events soon. Please keep an eye out in upcoming newsletters.
Tax Refunds Delayed
The IRS is reporting a backlog in returns due to staff issues and numerous tax law changes that went into effect for the 2020 tax year. Wondering where your refund is? Check status below:


Supreme Court denies New Hampshire's complaint against Massachusetts taxing remote workers

New Hampshire filed a bill of complaint against Massachusetts for taxing remote workers during the COVID-19 pandemic, claiming “Massachusetts has unilaterally imposed an income tax within New Hampshire that New Hampshire, in its sovereign discretion, has deliberately chosen not to impose” (Motion for Leave to File Bill of Complaint, p. 2).
What is the new Advanced Child Tax Credit payment all about?

Everyone eligible is automatically enrolled in the Advanced Child Tax Credit. Parents of children 5 years old and younger qualify for an advance of $300 per month. Those with children age 6-18 qualify for $250 per month. Income limits apply. To manually opt out of receiving this payment and for more information on how this affects your 2021 tax filing, read below:
ABC’s Construction Backlog Indicator and Contractor Confidence Index Rise in June

ABC produces the Construction Backlog Indicator, the only economic indicator that reflects the amount of work that will be performed by commercial and industrial construction contractors in the months ahead, and the Construction Confidence Index, a diffusion index that signals construction contractors’ expectations for sales, profit margins and staffing levels.
 
Why Having an Exit Strategy is a Business Strategy
Many small- to lower-middle-market companies are forced to exit without having a true strategy in place. Reasons vary from partner disputes to other external events such as a pandemic. Read this article for ways to plan a solid exit strategy that benefits you and the business for years to come.