Business
Businesses Can Qualify for $1,000s in Credits from Federal Pandemic Relief
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Charlie Breitrose
Watertown businesses may be able to qualify for thousands of dollars back from the Federal government through a credit against the employment taxes they paid during the pandemic. Businesses and non-profits may be eligible for the employee retention tax credit from the Federal government. The program started with the first COVID-19 Pandemic relief act and was expanded to give businesses the opportunity to claim more money back from wages they paid to employees in 2020 and 2021, according to an article on CNBC.com, which was highlighted the Newton Needham Regional Chamber. The program is aimed at small and midsized businesses, which are those with 500 or fewer employees. To qualify, the business must have seen a drop of at least 20 percent in a quarter in 2021 compared to the same quarter in 2019.




