When the CARES Act was signed into law on March 27, 2020, it established the Employee Retention Tax Credit (ERTC), which entitled eligible employers to a refundable tax credit against certain federal employment taxes.
Read the most recent update on ERTC policies here:
If your business had payroll in 2020 or 2021, find out if you are eligible to claim credit:
In the face of a flood of illegitimate claims for the ERTC, the IRS imposed a moratorium on processing new claims for the credit, but the have since lifted this. They added a withdrawal option for businesses who claimed ERTC’s incorrectly. There is still time to withdrawal claims if they were filed incorrectly:
Categories: Emerging Regulations, Tax, Small Business
