The Coronavirus Aid, Relief, and Economic Security Act created a new employee retention tax credit for wages paid after March 12 and before Jan. 1, 2021, for eligible employers impacted by COVID-19. The new employee retention tax credit is a 50 percent tax credit of up to $10,000 in qualified wages per employee (a maximum credit of $5,000 per employee).
An ADP-hosted webinar will offer important insights on how this tax credit and recent legislation may benefit you and how your company may meet one of several eligibility requirements such as:
An employer carrying on a trade or business in 2020 that experienced partially or fully suspended operations as a result of orders of a governmental authority due to COVID-19.
Employers that experience a decline in gross receipts by more than 50 percent in a quarter compared to the same quarter in 2019.
The potential interplay and implications between the employee retention credit and deferral of employer Social Security taxes
To register for the webinar, click here.
