American Rescue Plan extends employee retention credit | Internal Revenue Service
Summary
An IRS release of April 27, 2021 says the American Rescue Plan extends the employee retention credit through December 2021 for businesses whose revenues declined or that shut down under COVID-19 government orders. It puts the credit at up to $7,000 per employee for each quarter, a maximum of $28,000 for an employee for 2021.
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“American Rescue Plan extends employee retention credit | Internal Revenue Service.”
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, SHA-256 c670b184f2a07a448efcbe83307e4417f81b2db7b450a4bceaac37c785e65a15.Full text
American Rescue Plan extends employee retention credit April 27, 2021 The American Rescue Plan extends the employee retention credit PDF for businesses. The credit is now available through December 2021. The credit is available to businesses that have seen revenues decline or had to temporarily shut down their operations due to government orders related to COVID-19. Businesses that qualify can take the credit for a portion of the wages they pay to some or all their employees, up to $7,000 per employee for each quarter. The maximum credit is $28,000 for an employee for 2021.
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