Your business might not have received a government loan but could still benefit from assistance due to the impact of COVID-19. Qualifying businesses affected by COVID-19 may be eligible to receive these tax credits. The Employee Retention Credit provides a 50% credit of up to $10,000 in wages. The Paid Sick Leave and the Family Leave credits offer tax incentives for employees unable to work due to having been directly or indirectly affected by the coronavirus. Work schedules for many employees have been limited due to school and child care closures.
To learn more about these credits, please click here .
Submitted by: Jeremy Fortner
Source: Internal Revenue Service
