Notice 2021-49 provides guidance on the employee retention credit provided under section 3134 of the Internal Revenue Code (the Code), as added by section 9651 of the American Rescue Plan Act (ARP), applicable to qualified wages paid after June 30, 2021, and before January 1, 2022. Notice 2021-49 also provides guidance on several issues that arise under both section 2301 of the Coronavirus Aid, Relief and Economic Security Act (CARES Act) and section 3134 of the Code. The miscellaneous issues addressed in this notice respond to various questions that the Treasury Department and the Internal Revenue Service have received about the employee retention credit applicable to both section 2301 of the CARES Act and section 3134 of the Code for qualified wages paid after March 12, 2020 and before January 1, 2022. Notice 2021-49 amplifies Notice 2021-20 and Notice 2021-23.
Notice 2021-49 will appear in IRB 2021-34, dated Aug. 23, 2021