SUPPLEMENT TO ACCOMPANY - Pratt & Kulsrud

The Act creates an employee retention credit of as much as $5,000 per employee to offset payroll tax costs (i.e., the 6.2% tax on wages or self-employment income) paid after March 12, 2020, and before January 1, 2021. If the credit amount exceeds the employer’s liability, the excess is refundable to the employer. It is estimated that the credit will provide a total benefit of about $54.6 ... ................
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