Tax Alert: New Employee Retention Credit Guidance in IRS Notice 2021-20
Yesterday the IRS issued Notice 2021-20, Guidance on the Employee Retention Credit under Section 2301 of the CARES Act. Notice 2021-20 finally provides some of the clarity that the accounting and business community has been asking for since the passing of the Consolidated Appropriations Act (CAA) on December 27, 2020. Our recent tax alert discusses this notice and what it means for businesses.