The IRS has issued updated guidance on several aspects of the employee retention credit. April Walker, CPA, CGMA, lead manager on the Tax Practice & Ethics team at the AICPA, touches on the highlights, including filing options for claiming the credit, an extension of penalty relief, and several key questions that have yet to be resolved.

What you’ll learn from this episode:

• What recent IRS notices have addressed regarding claiming the credit in 2021 and penalty relief.
• Two critical questions about the credit that have yet to be addressed by the IRS.
• One common mistake that a CPA firm leader says managers should avoid when delegating tasks.
• Updates on a bill’s passage in the House of Representatives and other news.