author_orbitax
Orbitax

Share This Article

U.S. IRS Issues Release on Employee Retention Credit for Businesses Impacted by COVID-19

01 April 2020

|

Approved Changes

|

United States

The U.S. IRS has issued a release on the Employee Retention Credit for businesses impacted by COVID-19. --- IRS: Employee Retention Credit available for many businesses financially impacted by COVID-19 IR-2020-62, March 31, 2020 WASHINGTON — The Treasury Department and the Internal Revenue Service today launched the Employee Retention Credit, designed to encourage 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. Does my business qualify to receive the Employee Retention Credit? The credit is available to...