Employee Retention Tax Credit
This is an excerpt from a post on our site Taxes All Year. To read the complete article click here.
This is an excerpt from a post on our site Taxes All Year. To read the complete article click here.
As you may or may not know; taxpayers actually have until the filing deadline of a tax year to contribute to their IRA for that tax year.
WASHINGTON — The Treasury Department and the Internal Revenue Service today launched the Employee Retention Credit, designed to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19.
IR-2020-61, March 30, 2020
Although McCo provides some services that are considered essential, we’re practicing social distancing. We value our customers and prospects. We also place an extremely high priority on the safety of our team members.