Virginia Society of Tax & Accounting Professionals - IRS FAQs -- Employee Retention Credit & Businesses that Repay PPP loans by May 14

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IRS FAQs -- Employee Retention Credit & Businesses that Repay PPP loans by May 14

IRS FAQs -- Employee Retention Credit & Businesses that Repay PPP loans by May 14

08 May 2020 10:05 AM | Anonymous

The Internal Revenue Service updated FAQs #64 and #65 regarding the COVID-19 Employee Retention Credit for how eligible employers treat health care expenses.

Also, the IRS has added a new FAQ #79 regarding businesses that repay their Paycheck Protection Program loan by May 14, 2020.

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