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Extension of Tax Credit for Businesses Keeping Employees During COVID-19

This bill aims to reinstate and extend a tax credit for businesses that kept employees on payroll despite being closed due to the COVID-19 pandemic. This means some businesses could receive financial support for periods through the end of 2021, potentially helping to preserve jobs.
Key points
Reinstates the employee retention tax credit for employers affected by COVID-19 closures.
Extends eligibility for the credit for wages paid through January 1, 2022.
Applies to calendar quarters beginning after September 30, 2021.
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Additional Information
Print number: 117_HR_6161
Sponsor: Rep. Miller, Carol D. [R-WV-3]
Process start date: 2021-12-07