The Infrastructure Investment and Jobs Act, H.R. 3684, was signed by the President today. The CARES Act Employee Retention Credit has been retroactively terminated for most businesses after September 30, 2021. For recovery startup businesses, the credit will be terminated December 31, 2021.

  • Employers that claimed the CARES Act Employee Retention Business Credit in Q4 2021 will need to enter negative amounts in the CARES Act Business Credits equal to the amounts that were previously claimed for Q4 2021.  
  • The negative Business Credits will be processed on the next payroll for the Employer to repay the Credits taken in Q4 2021.  
  • The FFCR Act Business Credits Service Bureau Report can be run to determine the employers in your database that have claimed Q4 2021 CARES Act Business Credits.

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