The Coronavirus Aid, Relief, and Economic Security (CARES) Act* includes several significant business tax and nontax provisions.
Notably, the employee retention credit (ERC) provides immediate cash-flow relief to eligible employers that have been impacted by the COVID-19 pandemic. Such cash-flow relief comes in the form of a refundable employment tax credit, up to $5,000 per impacted employee for 2020 and up to $21,000 per impacted employee through Q3 of 2021 (28,000 through Q4 per impacted employee of an eligible recovery startup business)**.