FAQs: Employee Retention Credit under the CARES Act
Summary
A web page of frequently asked questions on the Employee Retention Credit under the CARES Act, marked as not current. It states that the FAQs do not reflect changes made by the Taxpayer Certainty and Disaster Tax Relief Act of 2020, enacted December 27, 2020, the American Rescue Plan Act of 2021, enacted March 11, 2021, or the Infrastructure Investment and Jobs Act, enacted November 15, 2021. It summarizes those changes: the Relief Act extended the credit for the first and second calendar quarters of 2021, the ARP Act for the third and fourth quarters, and the Infrastructure Act ended it for wages paid in the fourth quarter of 2021 for employers that are not recovery startup businesses. The page describes the credit as a refundable tax credit of 50% of up to $10,000 in wages paid by an eligible employer.
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Full text
FAQs: Employee Retention Credit under the CARES Act This Page is Not Current For the latest updates, see the Employee Retention Credit . These FAQs do not reflect the changes made by the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (Relief Act), enacted December 27, 2020, the American Rescue Plan Act of 2021 (ARP Act), enacted March 11, 2021, or the Infrastructure Investment and Jobs Act (Infrastructure Act), enacted November 15, 2021. The Relief Act amended and extended the employee retention credit (and the availability of certain advance payments of the tax credits) under section 2301 of the CARES Act for the first and second calendar quarters of 2021. The ARP Act modified and extended the employee retention credit for the third and fourth quarters of 2021. The Infrastructure Act terminated the employee retention credit for wages paid in the fourth quarter of 2021 for employers that are not recovery startup businesses. The Employee Retention Credit under the CARES Act encourages 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. Frequently Asked Questions Where can I get more information?
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- File
- IRS_faqs-employee-retention-credit-under-the-cares-act.html
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- 106,425 bytes
- SHA-256
- c824ab239ac791c3098a3d5094fb061110f6a3138e34b7884cb7e7d662f0c326
- Original
- www.irs.gov