March 8, 2021

IRS Updates Guidance On Employee Retention Tax Credit

The U.S. Internal Revenue Service recently issued a notice that provides companies with updated guidance on how to apply the Employee Retention Tax Credit (ERTC), a federal COVID-19 relief measure that has allowed companies to receive a credit of $5,000 per employee for qualified wages paid throughout 2020 and was extended in last year’s end-of-year relief package.

The notice provides updated guidance on issues ranging from eligible employees to qualified wages to the allocation of qualified health plan expenses.

Click here to read more.