What you need to know and why you may qualify

Join them Thursday, May 20 from 3:00PM to 4:00PM via Webex.

The COVID-19 response meant many businesses fully or partially shut down, creating a financial hardship for companies and affecting their ability to pay employees. The employee retention credit (ERC) provides immediate cash flow relief to eligible employers in the form of a refundable employment tax credit. The rules and qualifications for this credit recently changed, meaning companies who were not eligible in 2020 may now be eligible to claim the credit. Clients need assistance evaluating their eligibility, calculating their credit, and filing their claims.

You are invited to the KPMG 2021 Employee Retention Credit Update.

Join them as professionals from the KPMG Tax team present session discuss the recent updates to the credit and recently released Notice 2021-20, describing the application of the ERC to the 2020 calendar year and Notice 2021-23 for 2021 to date. With the rules and qualifications changing, this has opened up eligibility for many companies that previously did not qualify.

Recovery startup businesses

This term applies to any employer that started their operations after February 15, 2020 and can show average annual gross receipts of up to $1 million.  These employers can claim a $50,000 credit per calendar year without needing to prove the usual required gross receipts loss in 2020 and 2021.  They also don’t have to prove a period of partial or complete operations shutdown due to a government order.  

Should you have any questions, please contact Yuvette Kelley.

The Webex log-in information will be sent in a confirmation email prior to this session.

Please register here to attend.

Thanks to KPMG for offering this local startup event, the details, and the graphic!