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Treasury Release’s Guidance on the CARES Act’s Employee Retention Credit

The U.S. Department of Treasury has issued guidance related to the CARES Act’s Employee Retention Credit.  Employers of all sizes that are not utilizing the Paycheck Protection Program may take advantage of the credit.  Eligible companies must have operations that were fully or partially suspended during any calendar quarter in 2020 due to orders from an appropriate governmental authority limiting commerce, travel or group meetings due to COVID-19 or experienced a significant decline in gross receipts during the calendar quarter.

More information may be found here: https://www.irs.gov/newsroom/faqs-employee-retention-credit-under-the-cares-act