Tag: employee retention tax credit

IRS Releases Guidance on Claiming Employee Retention Credit with PPP Loan

Filed in Economics, Tax Reform by on March 2, 2021 0 Comments
IRS Releases Guidance on Claiming Employee Retention Credit with PPP Loan

The IRS released guidance this week for taxpayers claiming the employee retention credit for tax year 2020. The IRS plans to release additional guidance in the near future for claims arising during 2021, including changes made to the employee retention credit for 2021.

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IRS Reverses Guidance on Employee Retention Tax Credit

Filed in Codes and Standards, Labor by on May 8, 2020 0 Comments
IRS Reverses Guidance on Employee Retention Tax Credit

In response to concerns raised by a bipartisan group of lawmakers, the IRS has reversed guidance to allow employer-paid health insurance costs to be eligible for the employee retention tax credit, even if the employer has furloughed workers and is not otherwise paying wages.

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Employee Retention Tax Credit: What You Need to Know

Filed in Advocacy, Disaster Response by on May 5, 2020 2 Comments
Employee Retention Tax Credit: What You Need to Know

The IRS has released an extensive FAQ clarifying many early questions about when the employee retention tax credit can be claimed. The tax credit is designed to support eligible employers whose businesses are disrupted due to COVID-19 and was included in the CARES Act that was recently enacted into law.

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