The IRS recently released additional guidance for the employee retention tax credit authorized under the CARES Act, which can be viewed here. 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.
NOTE: an Eligible Employer may not receive the Employee Retention Credit if the Eligible Employer receives a PPP loan that is authorized under the CARES Act.
