Brixey & Meyer Blog

    CARES Act Provides Employee Retention Credit for Impacted Businesses

    Posted by Kari Brooke on Mar 26, 2020 2:58:13 PM

    Last night, the Senate passed an updated version of the Coronavirus Aid, Relief and Economic Security (CARES) Act. The bill builds upon earlier versions of the CARES Act and includes an employee retention credit for employers that close or partially close due to the coronavirus pandemic. Eligible employers are allowed a credit against employment taxes equal to 50% of qualified wages (up to $10,000 in wages) for each employee.

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    Topics: ohio, workplace productivity, Management, 2020, Coronavirus, SBA Disaster, COVID-19, Businesses, CARES Act, Employee Retention

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