IRS Issues FAQs to Help Employers Comply with the American Rescue Plan Act
Articles/NewsPosted in on June 30, 2021
The American Rescue Plan Act makes tax credits available to qualifying employers in 2021. These credits are similar to those that were previously available under the Families First Coronavirus Response Act (FFCRA), which phased out on December 31, 2020. When claiming credits under the American Rescue Plan Act, employers must be careful to ensure statutory compliance, as improperly claiming credits under the Act could lead to enforcement action by the Internal Revenue Service (IRS).
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