The Consolidated Appropriations Act Extends and Expands the Employee Retention Tax Credit
On December 27, 2020, President Trump signed into law the Consolidated Appropriations Act (the “Act”) which includes a $900 billion economic stimulus package intended to provide additional relief for the ongoing pandemic. As part of this stimulus package, the Act expands the employee retention tax credit that was originally included for 2020 in the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) into the first two quarters of 2021 with significant changes as described…