Revisions boost interest in special tax credit

CREDIT COUNSELOR: Michael Garcia, a partner in enterprise solutions for Kahn, Litwin, Renza & Co. Ltd., has been spending a lot of time fielding questions from clients about the Employee Retention Credit. / COURTESY KAHN, LITWIN, RENZA & CO. LTD.
CREDIT COUNSELOR: Michael Garcia, a partner in enterprise solutions for Kahn, Litwin, Renza & Co. Ltd., has been spending a lot of time fielding questions from clients about the Employee Retention Credit. / COURTESY KAHN, LITWIN, RENZA & CO. LTD.
A $5,000-per-employee tax credit may sound like a great incentive. But the Employee Retention Credit rolled out under the Coronavirus Aid, Relief and Economic Security Act in March failed to entice many businesses in the nine months that followed. The main problem, according to local accountants, was the requirement that applicants could not also receive…

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