Lawmakers Ask Treasury to Alter Worker Retention Credit Guidance

A group of bipartisan lawmakers are requesting the Treasury Dept reverse its current guidance and allow employers providing health insurance to furloughed workers to be eligible for the employee retention credit.

• “We urge you to reconsider this determination in light of congressional intent and the importance of providing access to affordable health care during the ongoing health crisis,” Senate Finance Cmte Chairman Chuck Grassley, top Democrat on the panel Ron Wyden, and House Ways & Means Cmte Chair Richard Neal say in letter to Treasury Secretary Steven Mnuchin
• NOTE: The retention credit provides a fully refundable payroll tax ...