Read more about the current Greenbook proposals. ...
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Amidst guidance surrounding the CARES Act and other COVID-19 legislation, it’s important to note additional limitations on the qualified wages used for calculating the Employee Retention Credit. One of these is the exclusion of wages paid to related individuals, as defined in Section 51(i)(1) of the Internal Revenue Code.
Wages of individuals excluded from qualified wages would be those with the following relationship to the employer, if the employer is:
An additional resource to these nuances can be found at IRS FAQ website.
Please contact your Schneider Downs tax advisor if you have any questions or would like to discuss the provisions of the CARES Act and or the Families First Coronavirus Response Act, and visit our coronavirus resource page for related content.
Read more about the current Greenbook proposals. ...
Learn more about the regional and national supply chain implications of the Baltimore Key Bridge collapse. ...
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