![]() ![]() ![]() For these expanded categories of eligible employers, Notice 2021-23 provides new guidance on the definition of qualified wages. Notice 2021-23 provides new guidance regarding other changes made by the CAA, including the expansion of eligible employers to include certain not-for-profit organizations and colleges or universities whose principal purpose is providing medical or hospital care. Notice 2021-23 provides some guidance on documentation of a decline in gross receipts. Notice 2021-20 also provides new guidance regarding substantiation requirements. Notice 2021-20 provides new guidance implementing changes made by the Consolidated Appropriations Act (CAA) to allow employers that previously received a Paycheck Protection Program (PPP) loan to be retroactively eligible for 2020 ERCs. Notice 2021-20 provides some new guidance, and makes official some of the guidance provided under the FAQs, clarifying the FAQs in a way generally consistent with the previously published FAQs. In March 2021, the Treasury Department issued Notice 2021-20 and Notice 2021-23, providing formal guidance relating to Employee Retention Credits (ERCs), replacing pre-existing FAQs first issued in May 2020 and updated periodically, with the last update having been made January 2021. 31, 2023 (XLSX, 33.The Treasury Department issued three notices in March and April 2021 regarding employee retention credits, Notice 2021-20, Notice 2021-23, and Notice 2021-24. Congressional Semi-Monthly Report - Jan. ![]()
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