The Employee Retention Credit will continue to provide cash relief to the hospitality industry, including restaurants and hotels. However, there is help available in the form of an employee payroll tax credit, which has already distributed millions of dollars in refundable credits and cash to employers in the retail and hospitality industries. Although hotels and…
The Employee Retention Credit (also known as “ERC”) is a cash return through payroll tax that is made accessible to medical, dental, and hospital-affiliated practices, including those controlled through private equity, as long as the practices satisfy the following criteria: Were impacted by directives from the government that imposed partial shutdowns on office activities, prohibited…
The Paycheck Protection Program (PPP) is the one that receives the majority of the attention when it comes to small business relief. However, the Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020 also created the Employee Retention Credit (ERC), which offered eligible employers a refund on their federal payroll expenses for the year…
The Internal Revenue Service (IRS) issued Notice 2021-49 on August 4th, which states that the Employee Retention Credit (ERC), which was made available for businesses suffering from the COVID-19 crisis, will not be available with respect to wages paid to a majority owner, or such owner’s spouse, if the majority owner has a brother or…
How many times have you heard the saying, Once someone comes to work at our company, they don’t leave? That may be true, but it’s often because that employee never stays long enough to find out if the company really wants them around or not. Employee retention credit, otherwise known as ERC, is one way…
The pandemic has cost millions of jobs and left many companies scrambling to stay afloat. However, many employers have turned to the ERC to keep their businesses open, thanks to this small tax credit which allows companies to retain their employees without having to pay more in wages and benefits. In order to fully take…
