IRS Offers Employee Retention Credit To Qualifying Businesses
By
Texas Food and Fuel Association
4/1/2020
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IRS Offers Employee Retention Credit
To Qualifying Businesses
April 1, 2020
from PMAA
The United States Treasury Department and the Internal Revenue Service launched the Employee Retention Credit, designed to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19. The credit is available to marketers who continued to pay employees during the COVID-19 outbreak.
