Employee Retention Tax Credit Extended

The Coronavirus Disease 2019 (COVID-19) stimulus package signed into law by President Trump on December 27th, contains significant enhancements to the employee retention tax credit enacted under the CARES Act.

The credit initially provided a 50% tax credit, which is refundable and easily monetized, for companies that continue paying their employees, even though the business might be closed due to a COVID-19 lockdown, or suffering a significant decline in gross receipts due to loss of business.

Click the link below to learn more about the changes included in the extension, courtesy of GT Law.

ERTC Extension