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Articles From Lumsden McCormick

One-Page Overview of the Employee Retention Credit

The Consolidated Appropriations Act of 2021 (Act), signed into law on December 27, 2020, contains significant enhancements and improvements to the Employee Retention Credit (ERC) for 2020-2021. The ERC is a refundable payroll tax credit for wages paid and health coverage provided by an employer whose operations were either fully or partially suspended due to a COVID-19-related governmental order or that experienced a significant reduction in gross receipts.

For your convenience, we have created a one-page ERC overview that simplifies eligibility rules, credit amounts, qualified wages, and the employee threshold.

Download the one-page overview of the Employee Retention Credit

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One-Page Overview of the Employee Retention Credit

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Megan is a member of the tax team working with both businesses and individuals. Her focus is on commercial clients, including S Corporations, C Corporations, and partnerships. She also works on consolidated companies, manufacturers, real estate, and service-type companies. In addition, Megan works on Research and Development tax credits and incentives for start-ups and commercial businesses.

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