The U.S. IRS has issued new and updated Frequently asked questions about the Employee Retention Credit, which was introduced in response to the COVID-19 pandemic, providing a refundable tax credit designed to encourage businesses to keep employees on their payroll. The frequently asked questions (FAQs) provide general information on eligibility, claiming the credit, scams, and more, which were added or updated on 27 and 28 July 2023.