Favorable Business Provisions of the CARES Act

While the headlines were focused on the Paycheck Protection Program (PPP), the CARES Act contains several provisions beneficial to businesses.

Is there an employee retention credit for employers? Yes. This new credit is available to employers that retain employees and maintain salary during the rest of 2020. The credit is against the 6.2% employer’s share of Social Security tax. The credit will be available to all qualified employers that either had to suspend operations or…

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