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News & Press: Featured

Employee Retention Credit available for many businesses financially impacted by COVID-19

Wednesday, April 1, 2020  
Posted by: Debra Van Der Weide
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IR-2020-62, March 31, 2020

WASHINGTON — The Treasury Department and the Internal Revenue Service today launched the Employee Retention Credit, designed to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19. READ MORE