President Biden’s signing of the Infrastructure Investment and Jobs Act (IIJA) on November 15, 2021, retroactively eliminates an employer’s ability to claim employee retention credits (ERC) for eligible wages paid after September 30, 2021. This means the maximum ERC per employee available to an eligible employer in the tax year 2021 is $21,000, not $28,000.
Latest Post
More Posts
IRS Issues FAQs on Leave-Sharing Plans to Aid Employees Affected by COVID-19
Executive Memorandum Permits Individuals to Defer Certain Payroll Tax Obligations
IRS Updates FAQs on Employee Retention Credit Under the CARES Act
IRS Issues Update to Form 941 for COVID-19 Related Employment Tax Credits and Other Tax Relief
IRS Finalizes Redesigned Form W-4
Determining the Taxability of Employer-Provided Executive Health Examination Programs
Subscribe: Subscribe via RSS