CARES Act – Employee Retention Credit and Employer Payroll Tax Deferral
May 18, 2020
The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act contains a business relief provision known as the Employee Retention Credit (ERC), a payroll tax credit for “qualified wages” paid to retained employees between March 13 and December 31, 2020. The purpose of this provision is to encourage employers to keep employees on the payroll, even if they are not working during the covered period due to the effects of the coronavirus outbreak.
Please find attached information about the ERC relief and payroll tax credit.
