Detailed in a previous Gould & Ratner article on the extension and expansion of the employee retention tax credit, the stimulus bill signed into law in December 2020 extended the timeframe in which eligible wages can be paid to July 1, 2021, and modified the calculation of the credit for qualified wages paid in 2021.
Also, as we discussed in a previous article, last month the IRS issued guidance for employers claiming the credit for 2020. The guidance did not address the extension of the credit into 2021.
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