Article Date:
March 2022

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New Hope for Restoring and Fixing the Employee Retention Credit

As you may remember, two bad things happened to the Employee Retention Credit (ERC):



On November 15, 2021, Congress retroactively repealed the ERC for the fourth quarter of 2021 (except for start-up businesses).


On August 4, 2021, the IRS issued the clearly irrational Notice 2021-49 stating that a corporate owner with certain living relatives does not qualify for the ERC.


In Say Goodbye to the ERC for the Fourth Quarter, you learned that Congress created the fourth-quarter ERC on March 11, 2021, and then on November 15, 2021 (a mere eight months later), changed its mind and retroactively repealed the ERC to September 30, 2021. Outrage is the proper response—and we have some tactics for addressing that coming up.


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