Employee Retention Tax Credit Reinstatement Act

12/29/2022, 9:18 PM

Employee Retention Tax Credit Reinstatement Act

This bill provides for a reinstatement of the employee retention tax credit through 2021. The credit was established to compensate employers whose businesses were negatively impacted by the COVID-19 pandemic for wages paid to their employees.

Congress
117
Number
S - 3625
Introduced on
2022-02-10
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

2/10/2022
Text
PDF
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Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Employee Retention Tax Credit Reinstatement Act

This bill provides for a reinstatement of the employee retention tax credit through 2021. The credit was established to compensate employers whose businesses were negatively impacted by the COVID-19 pandemic for wages paid to their employees.

Alternative Names
Official Title as IntroducedA bill to amend the Internal Revenue Code of 1986 to temporarily reinstate the employee retention credit for employers subject to closure due to COVID-19.
Policy Areas
Taxation
Potential Impact
Cardiovascular and respiratory health•
Emergency medical services and trauma care•
Employment taxes•
Infectious and parasitic diseases•
Wages and earnings

Comments

Recent Activity

Latest Summary2/18/2022

Employee Retention Tax Credit Reinstatement Act

This bill provides for a reinstatement of the employee retention tax credit through 2021. The credit was established to compensate employers whose businesses were negatively ...

Latest Action2/10/2022
Read twice and referred to the Committee on Finance.