Description: The Consolidated Appropriations Act, as noted above, extends employee retention tax credit via the first two quarters of 2021. Eligible for the ERTC are companies that were required to cease their operations completely or partially as a consequence of a government order. The concept of "a substantial decrease in gross revenue has, however, been altered. Compared to the same quarter in 2019, companies must report a drop of at least 20% for 2021. Just look at an example. The gross receipts of a business in 2021 were $8,000 during Q1. In the 2019 Q1, the company received $10,000 in gross revenue. The company would be eligible for the ERTC.
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