All information about the Employee Retention Credit for 2021 easily led any reader to believe that the credit would continue to be available through December 31, 2021.
A new proposal, if enacted, would end the ERC September 30, 2021.
Recommendation: Take another look at all your employees and payroll files. Make sure you have included all possible wages and group healthcare income from qualifying employees during qualifying periods.
NOTE: Group healthcare counts as wages even if that is the only “wage” paid for a qualifying employee during a qualifying quarter.
Photo by Mario Gogh on Unsplash
Employee Retention Credit (ERC) may be going away soon?