Three credits available for businesses

Three credits available for businesses. Three new credits are available to many businesses hit by COVID-19. Employee Retention Credit: The employee retention credit is designed to encourage businesses to keep employees on their payroll. Also, 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. Qualifying employers must fall into one of two categories: The employer’s business is fully or

Families First Coronavirus Response Act

Families First Coronavirus Response Act: Credits for the Self-Employed On March 18, 2020, the President signed the Families First Coronavirus Response Act (Coronavirus Response Act) which increases funding for various programs and addresses paid sick and family leave, including tax credits for employers and self-employed persons. The Coronavirus Response Act requires employers with fewer than 500 employees to provide paid sick leave to employees who are forced to stay home due to quarantine, the care