On December 6th, 2021 the Internal Revenue Service issued guidance for employers regarding the retroactive termination of the Employee Retention Credit. The Infrastructure Investment and Jobs Act, which was enacted on November 15, 2021, amended the law so that the Employee Retention Credit applies only to wages paid before October 1, 2021, unless the employer is a recovery startup business.
There is still time to claim the Employee Retention Credit. The credit applies to wages paid or incurred from March 13, 2020 through September 30, 2021.
CONTACT US TODAY if you have any questions or need help to apply for Employee Retention Credit.
Sincerely,
Maryna Varabyova, CPA
(877) 677-3737
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