What Is the Employee Retention Tax Credit?

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Most of us have heard of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which came with an over $2 trillion price tag and included provisions for economic impact payments (aka stimulus checks) for individuals, assistance for state and local governments, and Paycheck Protection Program (PPP) loan options for small businesses. What not everyone knows is that there were other provisions in the CARES Act, as well, one of which is the Employee Retention Tax Credit.

The Employee Retention Tax Credit was put into place as an incentive for employers to keep employees on staff as the economy retracts,

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