Apply by Wednesday, October 25, 2023!
Partnering Agreements No Longer Required for the Now-Named Marvin M. Black Excellence in Partnering & Collaboration Awards
All of the photos from the 2023 ż of America Annual Convention are now available via our online photo portal. The photos are organized in albums based on each session and can be downloaded the photos right from the site. Thanks to everyone who attended the 2023 Annual Convention in Las Vegas, their support and engagement helped make the event a big success. We hope to see all you next year at our 2024 Annual Convention in San Diego from March 20-22, 2024!
Overcoming Challenges & Building Opportunities: The 2022 ż of America Annual Report is Now Available
Digital, Video and Printable Versions of the Annual Report are now available at report.agc.org
Over the past two months, ż of America, working with a coalition of other industry stakeholders, has worked with Congress to pass an extension of the Employee Retention Tax Credit (ERTC) through the fourth quarter of 2021. The ERTC was originally extended to run through the end of 2021 but was retroactively repealed for the fourth quarter after passage of the Infrastructure Investment and Jobs Act (IIJA), to expire after September 30. Because of the delay in passing IIJA some construction firms already claiming the credit in October 2021 face a potential tax penalty when they file their 2021 tax returns as a result.
On February 7, ż filed comments to the Financial Crimes Enforcement Network (FinCEN) regarding proposed regulations to implement legislation passed in 2020 called the Corporate Transparency Act. The legislation would require legal entities with fewer than 20 employees and less than $5 million in gross revenue to submit “beneficial ownership information” to FinCEN. Beneficial owners are defined in the statute as anyone who owns at least 25 percent of a company, or exercises “substantial control” over its operations. ż opposed the Corporate Transparency Act when it was considered in Congress due to the potential for the unauthorized disclosure of sensitive information—and any associated identity theft and/or cybercrime—and the potential for the owners of construction firms to be fined and/or imprisoned for failing to furnish this information in a timely manner.
On February 10, Senators Maggie Hassan (D-N.H.), Tim Scott (R-S.C.), Mark Warner (D-Va.), Shelly Moore Capito (R-W.Va.), and Ben Cardin (D-Md.) introduced ż-supported legislation to extend the employee retention tax credit (ERTC) through the end of 2021. The Senate bill mirrors ż-supported legislation introduced in the House of Representatives last month by Reps. Carol Miller (R-W.Va.) and Stephanie Murphy (D-Fla.).