New employee retention credit, hurricane-related relief | KPMG | GLOBAL

KPMG report: New employee retention credit, hurricane-related relief

New employee retention credit, hurricane-related relief

Congress recently passed legislation that provides a federal income tax credit to certain employers that continue to pay their employees during periods of time when their places of business are inoperable due to the effects of one of three recent hurricanes.

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The credit is available to employers of all sizes as a general business credit, and can be carried back one year and forward 20 years. 

 

Read an October 2017 report [PDF 71 KB] prepared by KPMG LLP: What’s News in Tax: New Employee Retention Credit

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