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The tax fallout from the pandemic has been significant.
Besides economic impact payments and other tax breaks for individuals, Congress authorized tax relief for employers through the employee retention credit, a sick leave credit and payroll tax deferrals. Now the General Accountability Office has reviewed IRS data from employment tax returns for 2020 with an eye on ensuring compliance. It estimates that the ERC and leave credits cost Uncle Sam about $20 billion.[/vc_column_text][us_image image=”3784″][/vc_column][/vc_row]
