Employee Retention Credit Extended
The American Rescue Plan, gave businesses until Dec. 31, 2021 to claim the credit — an addition of six months from the deadline established in December 2020.
Category: Credits
Employee Retention Credit
A refundable tax credit against certain employment taxes equal to 50 percent of the qualified wages an eligible employer pays to employees after March 12, 2020, and before January 1, 2021.
Employee Retention Tax Credit
The Employee Retention Credit or ERC is found in the CARES Act in Section 2301. The ERC is designed to help businesses keep employees on payroll.
More Time To Make A 2019 IRA Contribution.
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.
IRS: Employee Retention Credit available for many businesses financially impacted by COVID-19
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.