Employee Retention Tax Credit (ERTC)

Update on IRS efforts to combat questionable Employee Retention Tax Credit claims

Employee Retention Tax Credit (ERTC), Internal Revenue Service (IRS), Small Business, Small Business Owners, Small Business Tips, Tax Credits / Douglas Freeman

The Employee Retention Tax Credit (ERTC) was introduced back when COVID-19 temporarily closed many businesses. The credit provided cash that helped enable struggling businesses to retain employees. Even though the ERTC expired for most employers at the end of the third quarter of 2021, it could still be claimed on amended returns after that. According […]

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Employers should be wary of ERC claims that are too good to be true

(ERC) Employee Retention Credit, COVID-19, Employee Retention Tax Credit (ERTC), Federal Income Tax, Income Tax, Paycheck Protection Program / Douglas Freeman

The Employee Retention Credit (ERC) was a valuable tax credit that helped employers that kept workers on staff during the height of the COVID-19 pandemic. While the credit is no longer available, eligible employers that haven’t yet claimed it might still be able to do so by filing amended payroll returns for tax years 2020

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Infrastructure law sunsets Employee Retention Credit early

(CARES ACT), Employee Retention Tax Credit (ERTC), Payroll Tax, Small Business, Small Business Owners, Tax, Tax Credits / Douglas Freeman

The Employee Retention Credit (ERC) was a valuable tax credit that helped employers survive the COVID-19 pandemic. A new law has retroactively terminated it before it was scheduled to end. It now only applies through September 30, 2021 (rather than through December 31, 2021) — unless the employer is a “recovery startup business.” The Infrastructure

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Eligible Businesses: Claim the Employee Retention Tax Credit

American Rescue Plan Act, Employee Retention Tax Credit (ERTC), Employment Tax, Paycheck Protection Program, Tax / Douglas Freeman

The Employee Retention Tax Credit (ERTC) is a valuable tax break that was extended and modified by the American Rescue Plan Act (ARPA), enacted in March of 2021. Here’s a rundown of the rules. Background. Back in March of 2020, Congress originally enacted the ERTC in the CARES Act to encourage employers to hire and

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New COVID-19 relief law extends employee retention credit

American Rescue Plan Act, Consolidated Appropriations Act (CAA), Employee Retention Tax Credit (ERTC), Employees, Small Business / Douglas Freeman

Many businesses have retained employees during the COVID-19 pandemic and enjoyed tax relief with the help of the employee retention credit (ERC). The recent signing of the American Rescue Plan Act (ARPA) brings good news: the ERC has been extended yet again. The original credit. As originally introduced under last year’s CARES Act, the ERC

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Business highlights in the new American Rescue Plan Act

American Rescue Plan Act, Employee Retention Tax Credit (ERTC), Small Businesses Administration / Douglas Freeman

President Biden signed the $1.9 trillion American Rescue Plan Act (ARPA) on March 11. While the new law is best known for the provisions providing relief to individuals, there are also several tax breaks and financial benefits for businesses. Here are some of the tax highlights of the ARPA. The Employee Retention Credit (ERC). This

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Can your business benefit from the enhanced Employee Retention Tax Credit?

(CAA) Consolidated Appropriations Act of 2021, (CARES ACT), Employee Retention Tax Credit (ERTC), Employees, Paycheck Protection Program, Tax Credits / Douglas Freeman

COVID-19 has shut down many businesses, causing widespread furloughs and layoffs. Fortunately, employers that keep workers on their payrolls are eligible for a refundable Employee Retention Tax Credit (ERTC), which was extended and enhanced in the latest law. Background on the credit. The CARES Act, enacted in March of 2020, created the ERTC. The credit:

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