Employee retention credits as updated by the Consolidated Appropriations Act, 2021 (CAA)

The CAA made several significant employer-friendly changes to the ERC and have effectively created two separate versions of the credit, one for 2020 and another for 2021. We have developed a flowchart that outlines the differences between the two and guidance on how to determine eligibility.

Download the flowchart

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Coronavirus benefit coordination matrix

Each business must determine which relief programs will have the most positive impact on their business. Baker Tilly’s coronavirus benefit coordination matrix not only explains who can use each benefit, but how each benefit coordinates with others.

A preview of the matrix is shown below, highlighting the 2021 employee retention credit.

Download the coronavirus benefit matrix

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Updates to the employee retention credit

Join Baker Tilly’s tax professionals for a discussion on changes to the ERC and what it could mean for you and your business.

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Updates to employee retention credit present significant opportunities for employers

On Dec. 27, 2020, the Consolidated Appropriations Act (CAA) was signed into law. The CAA contains several bills that provide continued economic relief from the COVID-19 pandemic, including an expanded employee retention credit (ERC).

For more information or to learn how Baker Tilly specialists can help, reach out to your Baker Tilly advisor or contact our team.