Bill — S. 2936, Employee Retention Tax Credit: Treatment of Related Individuals
Summary
S. 2936 is a bill introduced in the Senate on October 5, 2021 by Mr. Cassidy and referred to the Committee on Finance. Its stated purpose is to amend the CARES Act and the Internal Revenue Code of 1986 to modify the treatment of related individuals under the employee retention tax credit. It amends section 2301(e) of the Coronavirus Aid, Relief, and Economic Security Act, with an amendment applying to wages paid after March 12, 2020. It also amends section 3134(e) of the Internal Revenue Code of 1986, with an amendment applying to wages paid after June 30, 2021.
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“Bill — S. 2936, Employee Retention Tax Credit: Treatment of Related Individuals.”
Original at www.govinfo.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/bills-bills-117s2936is-bills-117s2936is/
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II
117TH CONGRESS
1ST SESSION
S. 2936
To amend the CARES Act and the Internal Revenue Code of 1986 to
modify the treatment of related individuals under the employee retention
tax credit.
IN THE SENATE OF THE UNITED STATES
OCTOBER 5, 2021
Mr. CASSIDY introduced the following bill; which was read twice and referred
to the Committee on Finance
A BILL
To amend the CARES Act and the Internal Revenue Code
of 1986 to modify the treatment of related individuals
under the employee retention tax credit.
1 Be it enacted by the Senate and House of Representa-
2 tives of the United States of America in Congress assembled,
3 SECTION 1. TREATMENT OF RELATED INDIVIDUALS UNDER
4 EMPLOYEE RETENTION TAX CREDIT.
5 (a) AMENDMENTS TO CARES ACT.—
6 (1) IN GENERAL.—Section 2301(e) of the
7 Coronavirus Aid, Relief, and Economic Security Act
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8 is amended by inserting ‘‘(applied without regard to
9 the phrase ‘(determined with the application of sec-
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2
1 tion 267(c))’ in subparagraph (A) thereof)’’ after
2 ‘‘51(i)(1)’’.
3 (2) EFFECTIVE DATE.—The amendment made
4 by this subsection shall apply to wages paid after
5 March 12, 2020.
6 (b) AMENDMENT TO INTERNAL REVENUE CODE OF
7 1986.—
8 (1) IN GENERAL.—Section 3134(e) of the Inter-
9 nal Revenue Code of 1986 is amended by inserting
10 ‘‘(applied without regard to the phrase ‘(determined
11 with the application of section 267(c))’ in subpara-
12 graph (A) thereof)’’ after ‘‘51(i)(1)’’.
13 (2) EFFECTIVE DATE.—The amendment made
14 by this subsection shall apply to wages paid after
15 June 30, 2021.
Æ
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•S 2936 IS
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