--- title: IRS Provides Updated Guidance on the Employee Retention Tax Credit description: CRR's Keith Blankenship discusses the IRS' latest updates to the Employee Retention Tax Credit (ERTC). image: https://www.crradvisors.com/hubfs/AdobeStock_280360440.jpeg --- [Skip to content](https://www.crradvisors.com/blog/irs-provides-updated-guidance-on-the-employee-retention-tax-credit#main-content) [![CRR](https://www.crradvisors.com/hubfs/CRR.svg)Homepage](https://www.crradvisors.com) - [Home](https://www.crradvisors.com) - [Services](https://www.crradvisors.com/services) - [Audit & Assurance](https://www.crradvisors.com/services/accounting-auditing) - [Business Valuation](https://www.crradvisors.com/business-valuation) - [Client Accounting + Advisory Services](https://www.crradvisors.com/caas) - [Private Client Services](https://www.crradvisors.com/private-client-services) - [Tax for Businesses](https://www.crradvisors.com/tax-services-business) - [Tax for Individuals](https://www.crradvisors.com/tax-services-individual) - [Transaction Advisory](https://www.crradvisors.com/transaction-advisory-services) - [Industries](https://www.crradvisors.com/industries) - [Blog](https://www.crradvisors.com/blog) - [About Us](https://www.crradvisors.com/about-us) - [Team & Careers](https://www.crradvisors.com/about-us) - [CRR Charitable Foundation](https://www.crradvisors.com/crr-charitable-foundation) - [Contact](https://www.crradvisors.com/contact-us) - [Client Tools](https://www.crradvisors.com/client-portal) - [Home](https://www.crradvisors.com) - [Services](https://www.crradvisors.com/services) - [Audit & Assurance](https://www.crradvisors.com/services/accounting-auditing) - [Business Valuation](https://www.crradvisors.com/business-valuation) - [Client Accounting + Advisory Services](https://www.crradvisors.com/caas) - [Private Client Services](https://www.crradvisors.com/private-client-services) - [Tax for Businesses](https://www.crradvisors.com/tax-services-business) - [Tax for Individuals](https://www.crradvisors.com/tax-services-individual) - [Transaction Advisory](https://www.crradvisors.com/transaction-advisory-services) - [Industries](https://www.crradvisors.com/industries) - [Blog](https://www.crradvisors.com/blog) - [About Us](https://www.crradvisors.com/about-us) - [Team & Careers](https://www.crradvisors.com/about-us) - [CRR Charitable Foundation](https://www.crradvisors.com/crr-charitable-foundation) - [Contact](https://www.crradvisors.com/contact-us) - [Client Tools](https://www.crradvisors.com/client-portal) ![](https://www.crradvisors.com/hs-fs/hubfs/AdobeStock_280360440.jpeg?width=5725&height=3817&name=AdobeStock_280360440.jpeg) COVID-19 Small Business IRS # IRS Provides Updated Guidance on the Employee Retention Tax Credit ![Keith Blankenship](https://www.crradvisors.com/hs-fs/hubfs/Keith%20New.jpg?width=48&height=48&name=Keith%20New.jpg) Keith Blankenship August 13, 2021 The IRS recently issued Notice 2021-49, which provides updated and additional guidance related to the Employee Retention Tax Credit (ERTC), including guidance on employer eligibility. The new guidance addresses changes made by the American Rescue Plan Act (ARPA) that are applicable to the third and fourth quarters of 2021. While previously only available to employers during the first two quarters of 2021, the ERTC is now available to eligible employers that pay qualified wages after June 30, 2021 and before January 1, 2022. The guidance also addresses several qualifiers for employer eligibility, including expanding the definition of eligible employer to include “recovery startup businesses”, and modifying the definition of qualified wages for “severely financially distressed employers”. Additionally, the IRS clarified that Paycheck Protection Program (PPP) loan forgiveness, Shuttered Venue Operator Grants (SVOG) and Restaurant Revitalization Grants are not considered gross receipts for the ERTC gross wage calculations. For the latest information on the ERTC and other employer tax credits, visit the IRS website: [https://www.irs.gov/coronavirus/employer-tax-credits](https://www.irs.gov/coronavirus/employer-tax-credits). If you have questions about the ERTC, leave a comment below, or feel free to reach out to me directly, I’m happy to help. ## Share this post [mailto:https%3A%2F%2Fwww.crradvisors.com%2Fblog%2Firs-provides-updated-guidance-on-the-employee-retention-tax-credit](mailto:https%3A%2F%2Fwww.crradvisors.com%2Fblog%2Firs-provides-updated-guidance-on-the-employee-retention-tax-credit) ## Keep reading ### [![](https://www.crradvisors.com/hs-fs/hubfs/AdobeStock_808994683.jpeg?width=4823&height=2412&name=AdobeStock_808994683.jpeg) Transaction Advisory Banks Banking What the SBA's New Quality of Earnings Rule Means for Your Next Deal](https://www.crradvisors.com/blog/what-the-sbas-new-quality-of-earnings-rule-means-for-your-next-deal) ### [![Staffing agency employees having a team meeting](https://www.crradvisors.com/hs-fs/hubfs/AdobeStock_1876259626.jpeg?width=7936&height=5291&name=AdobeStock_1876259626.jpeg) Staffing Staffing Series Week 4: What Staffing Agency Owners Should Know About the Work Opportunity Tax Credit (WOTC)](https://www.crradvisors.com/blog/staffing-series-week-4-what-staffing-agency-owners-should-know-about-the-work-opportunity-tax-credit-wotc) [![CRR](https://www.crradvisors.com/hubfs/CRR.svg "CRR")](https://www.crradvisors.com) *"CRR" is the brand name under which CRR, LLP and Bridgepoint Alliance, LLC, doing business as CRR Advisors, offer professional services to its respective clients in an alternative practice structure in accordance with the AICPA Code of Professional Conduct and applicable laws, regulations, and professional standards. 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