IRS Updates FAQs on Employee Retention Credit Under the CARES Act By Publisher, Randle B. Pollard & Shivam K. Bimal on May 12, 2020 Email this postTweet this postLike this postShare this post on LinkedIn On April 29, 2020, the Internal Revenue Service (IRS) provided additional guidance on the employee retention credit (ERC) available under the Coronavirus Aid, Relief, and Economic Security (CARES) Act via new frequently asked questions (FAQs).