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PRINTED: 12/09/2020 FORM APPROVEDDEPARTMENT OF HEALTH AND HUMAN SERVICES CENTERS FOR MEDICARE & MEDICAID SERVICES STATEMENT OF DEFICIENCIES AND PLAN OF CORRECTION(X1) PROVIDER/SUPPLIER/CIA IDENTIFICATION
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What is was initiated on 1202?
The IRS Form 1202, also known as the 'Employee Retention Credit (ERC) Application,' was initiated to provide businesses with a tax credit for retaining employees during the COVID-19 pandemic.
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Businesses that experienced a significant decline in revenue or were required to suspend operations due to governmental orders are required to file Form 1202.
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Reported information includes the number of eligible employees, the amount of wages paid, the period for the credit, and any relevant governmental order details.
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