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Changes to Employee Retention Tax Credit for Related Individuals.

This bill modifies the rules for the employee retention tax credit, specifically regarding the employment of family members. It aims to clarify which related individuals can be included when calculating this credit, potentially affecting the financial support available to businesses.
Key points
The bill clarifies rules for the Employee Retention Tax Credit concerning the employment of family members.
Changes apply to wages paid after March 12, 2020, and after June 30, 2021, depending on the specific section of the act.
Businesses employing family members may see altered eligibility conditions for the credit, potentially impacting their finances.
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Additional Information
A bill to amend the CARES Act and the Internal Revenue Code of 1986 to modify the treatment of related individuals under the employee retention tax credit.
Print number: S 2936
Sponsor: Sen. Cassidy, Bill [R-LA]
Process start date: 2021-10-05