The the Ways and Means Committee approved the Tax Relief for American Families and Workers Act of 2024 on January 19. As part of our commitment to members' professional development and information sharing, the COCPA recommends this article from Thomson Reuters to help you understand how the American Families and Workers Act will affect your business and your work. The article covers:

• The Enhanced Child Tax Credit
• Business tax relief
• Support for small businesses
• The Employee Retention Tax Credit (ERTC)
• Adjustments to 1099-MISC and 1099-NEC filing thresholds
• Support for affordable housing