IRS Clarifies Eligibility for 2020 Employee Retention Credit

Please join CTR for a free webinar where we will discuss new clarifications from the IRS regarding PPP borrowers and Employee Retention Tax Credit eligibility. Topics we will be addressing:

-Clarification on retroactive changes made to the 2020 ERC and how PPP Borrowers may claim the ERC
-Employer eligibility, what constitutes a full or partial suspension of trade or business operations and what defines a significant decline in gross receipts

We will also review the IRS clarifications on the maximum amount, qualified wages and how to substantiate the credit.

Employee Retention Tax Credit FAQs

If you’re considering the Employee Retention Tax Credits under the CARES Act, we recommend reviewing the newly released FAQS from the IRS. The IRS has released 94 FAQs with calculation examples.