The IRS has released updated guidance for businesses that recapture or correct pandemic-related employment tax credits that were erroneously distributed.
The agency issued proposed (REG-109077-21, RIN 1545-BQ08) and temporary (TD 9953, RIN 1545-BQ09) regulations Wednesday that include new code sections for paid leave and employee retention credits created by the American Relief Plan Act (Public Law No. 117-2) in March.
- The new code sections are similar to those created for businesses and nonprofits under previous relief laws, the Families First Act (Public Law 116-127) and the ...
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