New law 2021 extends COVID-19 tax credit for employers who keep workers on payroll
Under the Consolidated Appropriation Act, 2021 the Tax Payer Certainty and Disaster Tax Relief Act of 2020 amends and extends the Employee Retention Credit under section 2301 of the CARES Act. For example, the law now allows employers who received a Payroll Protection Program (PPP) loan to claim the Employee Retention Credit (ERC) for qualified wages that were not treated as payroll costs in obtaining forgiveness of the PPP loan. Read full article.
Read the original guidance on the 2020 ERC criteria.