The IRS issued guidance for employers claiming the Employee Retention Credit for the first and second quarters of 2021.
IRS issues Employee Retention Credit guidance
April 05, 2021 / By ICBA
The IRS issued guidance for employers claiming the Employee Retention Credit for the first and second quarters of 2021.
The IRS issued guidance for employers claiming the Employee Retention Credit for the first and second quarters of 2021.
Background: Eligible employers can claim a refundable tax credit against the employer share of Social Security tax equal to 70 percent of the qualified wages they pay to employees between Dec. 31, 2020, and June 30, 2021.
Guidance: Notice 2021-23 explains changes to the credit for the first two calendar quarters of 2021, including the maximum credit amount, increase in eligibility, and other modifications.
Subscribe now
Sign up for the Independent Banker newsletter to receive twice-monthly emails about new issues and must-read content you might have missed.
Sponsored Content
Featured Webinars
Join ICBA Community
Interested in discussing this and other topics? Network with and learn from your peers with the app designed for community bankers.
Subscribe Today
Sign up for Independent Banker eNews to receive twice-monthly emails that alert you when a new issue drops and highlight must-read content you might have missed.
News Watch Today
Join the Conversation with ICBA Community
ICBA Community is an online platform led by community bankers to foster connections, collaborations, and discussions on industry news, best practices, and regulations, while promoting networking, mentorship, and member feedback to guide future initiatives.
Join the Community Example Text
