Description

“Everything Employers Need to Know About Earned Income Credit”

Join us as we take a deep dive learning all about the guidance for Employee Retention Credit (ERC).

The credit was created in March 2020 to encourage employers to keep their workforce intact during the COVID-19 pandemic. Notice 2021-49 addresses various issues, particularly those related to the extension of the credit through 2021 by the American Rescue Plan Act (ARPA).
 
The guidance also sheds further light on:
·  The treatment of tips and the Section 45B credit
·  Timing of qualified wage deduction disallowance
·  Alternative quarter election for 2021
·  Gross receipts safe harbor
·  Exclusion of wages paid to the majority owners of corporations