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Federal Disaster Employee Retention Credit retroactively renewed and expanded

Federal Disaster Employee Retention Credit retroactively renewed and expanded

Dec 19, 2019 by Allison Hollin

The federal Disaster Employee Retention Credit has been retroactively renewed and expanded to include an additional 20 disasters occurring in 2018 and 2019. This corporate income tax credit for businesses affected by a federally designated disaster who have retained employees can yield up to $2,400 per qualified employee and had last sunset at the end of 2017.

For more information on how these changes could benefit your business, please contact your Silverlode Tax Consultant or contact@silverlodeconsulting.com.