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New law extends COVID tax credit for some employers

 

Last updated 2/2/2021 at 3:57pm



WASHINGTON — The Internal Revenue Service urges employers to take advantage of the newly-extended employee retention credit, designed to make it easier for businesses that, despite challenges posed by COVID-19, choose to keep their employees on the payroll.

The Taxpayer Certainty and Disaster Tax Relief Act of 2020, enacted Dec. 27, 2020, made a number of changes to the employee retention tax credits previously made available under the Coronavirus Aid, Relief and Economic Security Act (CARES Act), including modifying and extending the Employee Retention Credit (ERC), for six months throug...



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