Coronavirus Tax Relief for Small Businesses and Tax-Exempt Entities
The Employee Retention Credit is available for many small businesses financially impacted by COVID-19. It is a refundable tax credit against certain employment taxes equal to 50% of the qualified wages an eligible employer pays to employees after March 12, 2020, and before January 1, 2021.
The Families First Coronavirus Response Act gives all American businesses with fewer than 500 employees funds to provide employees paid leave, either for the employee’s own health needs or to care for family members.