News & Analysis as of

American Rescue Plan Act of 2021 CARES Act Tax Credits

Whiteford

Client Alert: The Employee Retention Credit and How to Handle Unprocessed Claims

Whiteford on

The Employee Retention Credit (ERC) was introduced as part of the March 2020 Coronavirus Aid, Relief, and Economic Security (CARES) Act to encourage businesses to maintain their workforce during the economic disruptions of...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

IRS Places Moratorium on New Employee Retention Tax Credit Processing

On September 14, 2023, the Internal Revenue Service (IRS) released Employee Retention Credit (ERC) guidance placing a moratorium on processing new ERC claims due to a surge in questionable claim submissions. Claims already...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

IRS Finalizes Rules to Collect Taxes on Erroneously Claimed Employee Retention Credits and Other COVID-19 Tax Credits

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have finalized rules for the recapture of erroneously claimed Employee Retention Credits (ERC) and other tax credits provided to employers for...more

Freeman Law

A Primer on the Employee Retention Credit (ERC)

Freeman Law on

The Employee Retention Credit – Introduction. Congress acted quickly during the worldwide COVID-19 pandemic to provide hiring and other economic incentives to employers. One particularly helpful relief provision—the employee...more

Holland & Knight LLP

Update for Employers: Recent Legislation Improves, Extends Employee Retention Credit

Holland & Knight LLP on

Please note: This alert has been updated with new developments after the enactment of the Infrastructure Investment and Jobs Act. The Coronavirus Aid, Relief, and Economic Security (CARES) Act authorized a refundable tax...more

Groom Law Group, Chartered

Infrastructure Investment and Jobs Act Expands Interest Rate Smoothing and Disaster Relief Provisions

On November 15, 2021, President Biden signed the Infrastructure Investment and Jobs Act (the “IIJA”) into law. IIJA contains two sections that may affect qualified retirement plans....more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Infrastructure Investment and Jobs Act Repeals Employee Retention Credits as of September 30, 2021

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...more

Husch Blackwell LLP

New Federal Infrastructure Legislation Eliminates Employee Retention Credit

Husch Blackwell LLP on

On Monday, November 15, President Joseph Biden signed the $1.2 trillion Infrastructure Investment and Jobs Act (the Infrastructure Act). Although the legislation contains only a few tax provisions, one surprising change is...more

Nutter McClennen & Fish LLP

Employee Retention Tax Credits: Additional Guidance for Economically Challenged Businesses

The IRS issued Notice 2021-49 (the “Notice”) on August 4, 2021 to provide additional guidance on the Employee Retention Tax Credit (“ERTC”) applicable to the third and fourth quarters of 2021....more

Holland & Knight LLP

Update for Employers: Recent Legislation Improves, Extends Employee Retention Credit

Holland & Knight LLP on

The Coronavirus Aid, Relief, and Economic Security (CARES) Act authorized a refundable tax credit important to many employers struggling as a result of the COVID-19 pandemic. This credit, known as the Employee Retention...more

McCarter & English, LLP

Enhanced Opportunities To Benefit From The Employee Retention Credit

The Employee Retention Credit (ERC) was established by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) on March 27, 2020, to encourage businesses to keep employees on their payroll during the pandemic....more

Mitchell, Williams, Selig, Gates & Woodyard,...

COBRA Subsidy Update: IRS provides penalty relief and instructions for applying Employment Tax credits

On Tuesday, the IRS published Notice 2021-24, which provides penalty relief for an employer’s failure to timely deposit Employment Taxes related to the American Rescue Plan Act’s (ARPA) COBRA subsidy credits. The Notice...more

Gould + Ratner LLP

ARPA Expands Employment-Related Reimbursements and Extends Unemployment

Gould + Ratner LLP on

Earlier this month, President Biden signed into law the American Rescue Plan Act of 2021 (ARPA). ARPA extends by another six months, the reimbursement of paid leave offered by the Families First Coronavirus Response Act...more

Dickinson Wright

What the American Rescue Plan Means for Employers

Dickinson Wright on

The American Rescue Plan (ARP) provides $1.9 trillion dollars in economic stimulus for individuals, certain companies, and municipalities. This blog focuses specifically on what the ARP means for employers....more

Foley Hoag LLP

The American Rescue Plan Act of 2021: Understanding the Key Provisions Impacting Employers

Foley Hoag LLP on

On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 (the “ARPA”) into law. In addition to providing nearly $2 trillion of monetary relief for individuals and business sectors impacted by the...more

Lowenstein Sandler LLP

Paycheck Protection Program: FAQs For Microbusinesses - UPDATED March 2021 #3

On December 27, the President signed into law the Consolidated Appropriations Act, 2021. The Act includes a roughly $900 billion COVID-19 relief package, known as the “Economic Aid to Hard-Hit Small Businesses, Nonprofits and...more

Perkins Coie

Employer Responsibilities Under the ARPA COBRA Subsidy

Perkins Coie on

The American Rescue Plan Act of 2021 (ARPA) includes a number of provisions requiring immediate action by employers. One such provision provides for a 100% federal subsidy of COBRA premiums (including the up-to-2%...more

Baker Donelson

PPP Recipients May Qualify For Expanded Employee Retention Credit

Baker Donelson on

Multiple federal laws enacted during the pandemic have provided assistance to struggling employers, including assistance through the Paycheck Protection Program (PPP) and the employee retention tax credits (ERC). PPP and ERC,...more

Faegre Drinker Biddle & Reath LLP

Navigating the American Rescue Plan’s Employment-Related Provisions

On March 12, 2021, the American Rescue Plan Act of 2021 (ARP) was signed into law, providing an estimated $1.9 trillion stimulus package to address the ongoing COVID-19 pandemic. Some of the ARP’s key provisions include a...more

Ballard Spahr LLP

Paycheck Protection Program Continues to Evolve

Ballard Spahr LLP on

On March 11, 2021, President Biden signed into law the American Rescue Plan Act (ARPA) which, among other things, makes modifications to the Payroll Protection Program. On March 19, the Small Business Administration issued...more

Eversheds Sutherland (US) LLP

Third time’s the charm: Congress provides stimulus round three in American Rescue Plan Act of 2021

On March 11, 2021, the American Rescue Plan Act of 2021 (the ARPA), the third set of legislation aimed at assisting individuals and businesses during the COVID-19 pandemic, was signed into law by President Biden. Along with...more

Bowditch & Dewey

American Rescue Plan Act Extends Employee Retention Credit Through 2021

Bowditch & Dewey on

The American Rescue Plan Act of 2021 (ARPA), signed into law by President Biden on March 11, 2021, extends the employee retention credit, originally enacted as part of the 2020 CARES Act, through the end of 2021. Under the...more

Gould + Ratner LLP

The Latest COVID-19 Stimulus: Highlights of Key Tax Provisions in the American Rescue Plan Act of 2021

Gould + Ratner LLP on

The American Rescue Plan Act of 2021 (ARPA, 2021) was signed by President Biden on March 11, 2021 to address the continuing economic impact on employers and employees the coronavirus (COVID-19) pandemic has posed. The ARPA...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

American Rescue Plan Act of 2021: Top Employee Benefits and Executive Compensation Provisions

On March 11, 2021, President Joe Biden signed the American Rescue Plan Act of 2021 (ARPA). The ARPA is the latest installment of COVID-19–related stimulus packages passed by Congress in the last 12 months. Similar to the...more

Akin Gump Strauss Hauer & Feld LLP

US Insular Areas Included in the American Rescue Plan

Although the American Rescue Plan has received widespread attention for its historic size and extensive scope, one notable aspect of the new law that has generally escaped notice is its unprecedented resources dedicated to...more

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