IRS Releases Guidance on Q4 Removal

IRS Releases Guidance on Q4 Removal of Employee Retention Credit

Authored By RSM US LLP

The Infrastructure Investment and Jobs Act passed in November ended the employee retention credit (ERTC) early, changing the eligible wages to only those paid before Oct. 1, 2021 rather than Jan. 1, 2022 as previously expanded in the American Rescue Plan Act. This change does not apply to recovery startup businesses. Many businesses were filing […]

Employee Retention Credit Guidance For Open Questions

IRS enhances employee retention credit guidance for open questions

Authored By RSM US LLP

Employers impacted by COVID-19 that may be eligible for the employee retention tax credit (ERTC) finally have some additional guidance from the IRS that addresses a few unanswered questions, although some outstanding questions are still unanswered. Background The ERTC was originally enacted by in the CARES Act in March 2020. Its use by taxpayers was significantly increased […]