The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act provides multiple forms of relief to employers paying their workers.
For those employers who may not qualify for the Paycheck Protection Program (“PPP”) loans, or who choose not to apply for these loans, there is alternative help in the CARES Act. Two provisions of the law allow these employers to claim tax credits against payroll tax deposits and to defer payment of employer OASDI tax deposits.
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April 15, 2020