Vorys (Ohio/Texas): Treasury Relents on Employee Retention Tax Credit for Health Benefits Provided to Unpaid Employees

Following bipartisan pressure from members of both Houses of Congress and from employer groups, the IRS and Treasury have released additional guidance reversing the position taken in their recent FAQs.  The IRS revised FAQs 64 and 65 so that eligible employers who provide continued health insurance benefits while not providing any compensation to furloughed employees will still be able to claim the employee retention tax credit related to those health insurance benefits. MORE.

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