New IRS Guidance on the Employee Retention Credit
This Briefing is brought to you by AHLA’s Tax and Finance Practice Group.
- June 04, 2021
- Nicholas Kump , King & Spalding LLP
When the Department of Health and Human Services first declared a Public Health Emergency in January 2020 due to COVID-19, many employers, including the country’s health care providers, adapted and identified ways to provide critical services to customers and patients. Some employers even continued to pay their employees despite the government shutdown of their businesses. Congress and the Trump administration responded by passing the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which included the Employee Retention Credit to encourage all businesses to keep employees on their payroll during the COVID-19 public health emergency (PHE).
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