Treasury to Revise Employee Retention Credit to Cover Businesses Who Continue to Provide Health Insurance
The Treasury Department has told Senate Finance Committee Chairman Chuck Grassley (R-IA) that it will revise rules for the employee retention tax credit to make the tax break available to companies who have furloughed workers but are still providing health insurance.
In a separate letter, Treasury told Grassley the Department was still considering his request about whether to allow small businesses to deduct payroll expenses and other costs paid for by forgiven Paycheck Protection Program loans.
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