As the global pandemic is still ongoing, the ERC has been extended so that now for all four quarters of 2021 employers may be able to claim the credit. (Photo: Shutterstock)
In early March of this year, President Joe Biden signed into law the $1.9 trillion American Rescue Plan Act. Among the Act's provisions was the further extension of the Employee Retention Credit (ERC), a refundable tax credit for employers that have suffered financial hardship caused by the COVID-19 pandemic. The ERC was first made available on March 27, 2020 through the enactment of the Coronavirus Aid, Relief and Economic Security (CARES) Act, and then previously extended through the Taxpayer's Certainty and Disaster Relief Act on December 27, 2020.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
