Question #66:
What information must third-party payers obtain from their client employers to claim the employee retention credit on their client employer’s behalf?
Found under the M. Special Issues for Employers: Use of Third-Party Payers section of the Employee Retention Credit (ERC) IRS Notice 2021-20 with updated guidance to help business owners follow the current ERC rules.
The answer to question #66, What information must third-party payers obtain from their client employers to claim the employee retention credit on their client employer’s behalf?, can be found below.
ERC IRS Notice 2021-20 Question #66:
M. Special Issues for Employers: Use of Third-Party Payers
What information must third-party payers obtain from their client employers to claim the employee retention credit on their client employer’s behalf?
If a third-party payer (such as a CPEO, PEO, or other section 3504 agent) is claiming the employee retention credit on behalf of the client employer, it must collect from the client employer any information necessary to accurately claim the employee retention credit on its client employer’s behalf. This includes obtaining information with respect to the client employer’s claims for credits under sections 7001 and 7003 of the FFCRA and under section 45S of the Code, as well as whether the client employer has received a Paycheck Protection Program loan authorized under the CARES Act.
For more information about the Employee Retention Credit (ERC) IRS Notice 2021-20, visit the Internal Revenue Service (IRS) Department of the Treasury, official IRS.gov tax website.
Conclusion and Summary on What information must third-party payers obtain from their client employers to claim the employee retention credit on their client employer’s behalf? – #66 ERC IRS Notice 2021-20
The answer to Question #66: “What information must third-party payers obtain from their client employers to claim the employee retention credit on their client employer’s behalf?” was answered in detail above. It was found under section “M. Special Issues for Employers: Use of Third-Party Payers” in IRS Notice 2021-20.
Leave a comment below if you have further questions on the Employee Retention Credit (ERC) or for clarifications on What information must third-party payers obtain from their client employers to claim the employee retention credit on their client employer’s behalf?
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Cover Image Credit: Irs.gov / IRS Notice 2021-20 / Disaster Loan Advisors.
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