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Biden encourages businesses to take advantage of the employee retention credit. Here’s what you need to know

May 12, 2021


Over the last year, lawmakers have passed many tax breaks for businesses due to the coronavirus pandemic.

Now, the Biden administration is encouraging the hardest-hit businesses to take advantage of one especially large tax break, the employee retention credit.

The employee retention credit was first established in March 2020 in the CARES Act and has been expanded since in the December relief act and the American Rescue Plan Act signed in March.

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