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IRS Addresses Retroactive Termination of the Employee Retention Credit

Dec 09, 2021

The employee retention credit (ERC), also referred to as the employee retention tax credit (ERTC), was created in March 2020 to encourage eligible businesses to keep employees on payroll. It had been set to expire on Jan. 1, 2022, but the Infrastructure Investment and Jobs Act signed into law in November accelerated the end of the credit retroactive to Oct. 1, 2021—except for wages paid by a recovery startup business (RSB), for which the expiration date stayed unchanged. (Read More)

Article By: Stephen Miller, CEBS SHRM

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