Understanding the employee retention tax credit
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Understanding the employee retention tax credit

1 year ago · 5 min read

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Congress created the employee retention tax credit (ERTC) to encourage struggling employers to keep individuals on the payroll during the COVID-19 pandemic rather than lay them off. It was enacted in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L. 116-136. The main guidance about the credit is found in the IRS’s responses to a set of frequently asked questions (FAQs). It remains to be seen if the IRS will issue authoritative guidance on the credit.

The ERTC is

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