2022 Updated Overview of the Employee Retention Credit
Posted by Douglas Sosnowski on March 10, 2022
The Consolidated Appropriations Act of 2021 (Act), signed into law on December 27, 2020, contains significant enhancements and improvements to the Employee Retention Credit (ERC) for 2020-2021. The ERC is a refundable payroll tax credit for wages paid and health coverage provided by an employer whose operations were either fully or partially suspended due to a COVID-19-related governmental order or that experienced a significant reduction in gross receipts.
For your convenience, we have updated our one-page ERC overview for 2022. This flyer simplifies eligibility rules, credit amounts, qualified wages, and the employee threshold.
Download the 2022 one-page overview of the Employee Retention Credit.
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Doug is a Partner with Brisbane Consulting Group, LLC providing business valuation, forensic accounting, and litigation support services. He has extensive valuation experience and has served as a financial consultant and expert to attorneys in the economic aspects of matrimonial dissolution. Doug has experience consulting with publicly traded entities and valuing a variety of closely held companies in connection with mergers, acquisition and divestitures, business combinations, estate and gift tax planning, ESOPs, and purchase allocations.