In Notice 2021-20, the IRS provides guidance on claiming the employee retention tax credit for calendar quarters in 2020. The guidance clarifies details about the credit and describes retroactive changes made under a law enacted recently. Among other things, the guidance explains whether an employer that received a Paycheck Protection Program loan can also claim the employee retention credit for 2020. The notice also explains what constitutes an “eligible employer” for the credit and how that employer can claim it. Contact us with questions about your situation. You can read Notice 2021-20 here: https://bit.ly/3babw7G
