Difference between revisions of "Federal Action Including the Coronavirus Aid, Relief, and Economic Security Act"
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For additional guidance see https://home.treasury.gov/policy-issues/cares. | For additional guidance see https://home.treasury.gov/policy-issues/cares. | ||
+ | Employer Retention Credit | ||
+ | Employers whose operations are fully or partially suspended during the COVID-19 pandemic or whose quarterly receipts dropped by more than 50% as compared to the same quarter in the prior year, may receive a refundable payroll tax credit for 50% of wages (up to $10,000 per employee) paid during each calendar quarter during the COVID-19 pandemic. | ||
==SEE ALSO== | ==SEE ALSO== |
Revision as of 20:32, 19 April 2020
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The CARES Act is primarily intended to provide benefits and relief for small business owners (under 500 employees) and employees eligible for unemployment insurance benefits. Below are just some of the key provisions and benefits.
For a full text of the Act see https://www.congress.gov/116/bills/hr748/BILLS-116hr748enr.pdf (PDF).
For additional guidance see https://home.treasury.gov/policy-issues/cares.
Employer Retention Credit Employers whose operations are fully or partially suspended during the COVID-19 pandemic or whose quarterly receipts dropped by more than 50% as compared to the same quarter in the prior year, may receive a refundable payroll tax credit for 50% of wages (up to $10,000 per employee) paid during each calendar quarter during the COVID-19 pandemic.
SEE ALSO
< FAQs: Disability and Reasonable Accommodations | Table of Contents | Enhanced Unemployment > |
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