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Mar 6, 2021 by DianeN

NEW THIS YEAR EMPLOYER TAX CREDITS

The government has created two new employer tax credits to help you under the pandemic with the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

  • Sick and Family Leave Credit
  • Employee Retention Credit.

These tax credits can be very beneficial.  Our recommendation is that you ask your accountant about them and if you are eligible.  If you enjoy reading information from the IRS (there are support groups for this kind of desire) you can GO HERE to read all about it.  But generally, if you kept your employees on the payroll during the pandemic and/0r you gave some of them paid sick leave during the pandemic, you MAY be eligible.  Your accountant will be able to help with the specifics.

Here is  more information on this (especially if you can’t sleep at night) 🙂

  • Employee Retention Credit available for many businesses financially impacted by COVID-19
  • COVID-19-Related Tax Credits for Required Paid Leave Provided by Small and Midsize Businesses FAQs
  • FAQs: Employee Retention Credit under the CARES Act 

Filed Under: COVID-19 Tagged With: COVID, paid sick leave, tax credits

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We’re conveniently located in the heart of downtown Willimantic’s business district. Call us to schedule a meeting to discuss your business needs or to meet with our Business Resource Center.

Windham Region Chamber of Commerce
1320 Main St., Suite 27
Willimantic CT 06226
Phone: (860) 428-7739

info@windhamchamber.com

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