FAQ’s

FAQ’s

The Coronavirus Aid, Relief, and Economic Security (CARES) Act* includes several significant business tax and non-tax provisions. Here is the most comprehensive list of 100 FAQs compiled in conjunction with Internal Revenue Services website

12 Popular Questions

General Information

Which Employers are Eligible to Claim the Employee Retention Credit

Which Entities are Considered a Single Employer Under the Aggregation Rules

What Types of Governmental Orders Related to COVID-19 May be Taken into Account for Purposes of the Employee Retention Credit

When an Employer’s Trade or Business Operations are Considered to be Fully or Partially Suspended Due to a Governmental Order

When an Employer is Considered to have a Significant Decline in Gross Receipts

Maximum Amount of an Eligible Employer’s Employee Retention Credit

Determining Qualified Wages

Determining the Amount of Allocable Qualified Health Plan Expenses

How to Claim the Employee Retention Credit

Interaction with Other Credit and Relief Provisions

Special Issues for Employees: Income and Deduction

Related Employee Retention Credits: General Information FAQs

Special Issues for Employers: Use of Third Party Payers

Other Issues