By Payroll and Entitlements Editorial Staff
The IRS has updated the FAQs it has issued regarding that Employee Retention Credit. The Employee Retention Credit under the CARES Act encourages businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19. The updated FAQs can be found here: Coronavirus Tax Relief: FAQs: Employee Retention Credit under the CARES Act, Updated on April 29, 2020.
