The Employee Retention Credit is a refundable tax credit against certain employment taxes equal to 50 percent of the qualified wages an eligible employer pays to employees after March 12, 2020, and before January 1, 2021. Eligible employers can get immediate access to the credit by reducing employment tax deposits they are otherwise required to make.[…]
The Journal of Accountancy reports that the Coronavirus Aid, Relief, and Economic Security (CARES) Act, H.R. 748, which was passed unanimously by the Senate last week and signed by President Donald Trump on Friday, March 27th contains a plethora of tax measures as part of a $2 trillion aid package designed to help the economy[…]
On Thursday morning, The House of Representatives passed H.R. 3823, the Disaster Tax Relief and Airport and Airway Extension Act of 2017, signed by President Trump on Friday last week. The Hurricane Harvey, Irma and Maria employee retention credit for any taxable year is an amount equal to 40 percent of the qualified wages with[…]