The U.S. IRS has issued a release on the Employee Retention Credit for businesses impacted by COVID-19.
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IRS: Employee Retention Credit available for many businesses financially impacted by COVID-19
IR-2020-62, March 31, 2020
WASHINGTON — The Treasury Department and the Internal Revenue Service today launched the Employee Retention Credit, designed to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible…