IRS FAQs -- Employee Retention Credit & Businesses that Repay PPP loans by May 14

Internal Revenue Service (IRS) sent this bulletin at 05/08/2020 09:57 AM EDT

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May 8, 2020

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Issue Number: IRS FAQs 64, 65 and 79

Inside This Issue

The Internal Revenue Service updated FAQs #64 and #65 regarding the COVID-19 Employee Retention Credit for how eligible employers treat health care expenses.

Also, the IRS has added a new FAQ #79 regarding businesses that repay their Paycheck Protection Program loan by
May 14, 2020.

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