Employee Retention Credit to End September 30, 2021 Instead of At Year End
As stated in past blog posts, one of the most beneficial COVID-19 tax relief measures for the restaurant industry is the employee retention credit (ERC). The ERC was slated to end at the end of 2021. The Infrastructure Investment and Jobs Act (IIJA), which the House of Representatives passed on November 5 and President Biden is expected to sign into law the week of November 15, will retroactively end the employee retention credit (ERC) on September 30, 2021 for most employers.
Read more about this important update in our latest BDO Insight