A tax credit reimbursing small business owners for time employees took off to get vaccinated has expired — but small businesses can still benefit.
Originally, under legislation that passed in early 2020, small businesses were given access to a credit they could claim for employees out sick with Covid-19. That credit was extended through March 31, 2021 and again through September 30 — allowing small businesses to claim the credit for employees who took time off to be vaccinated or were sick during that period.
Complicated rules and prohibitions against double dipping these credits against the same payrolls as the Paycheck Protection Program and the Employee Retention Credit reduced the number of small businesses that utilized it at the time, said Marc Valerio, a CPA and partner at Bonadio Group.
Read the full story on cleveland.com’s sister site, Cleveland Business Journal.
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October 27, 2021 at 02:31AM
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This lucrative tax credit expired. But small businesses can still claim it. - cleveland.com
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