The National Federation of Independent Business reminded on February 9th that businesses with 500 or fewer employers may be eligible for a newly expanded tax credit – up to $14,000 per employee in Q1 and Q2 of this year. The Employee Retention Tax Credit (ERTC) now expanded through June 30, 2021, offers a more generous tax credit, and eliminates a previous 2020 restriction for those with a Paycheck Protection Program loan.
The U.S. Department of Health and Human Services (HHS), through the Health Resources and Services Administration (HRSA), is announcing the latest Provider Relief Fund (PRF) application period has been expanded to include provider applicants such as residential treatment facilities, chiropractors, and eye and vision providers that have not yet received Provider Relief Fund distributions. The Administration is committed to providing relief resources in an equitable manner to assist the diverse health care provider community regardless of whether they accept Medicare or Medicaid payments. HHS is also announcing it will be updating its most recent PRF reporting instructions to broaden use of provider relief funds.
As ACA has reported, the Centers for Medicare and Medicaid Services plans on cutting reimbursement across a wide swath of providers, including chiropractors, starting Jan. 1, 2021. ACA has been part of two coalitions fighting these cuts and is supporting legislation designed to place a one-year moratorium on the planned cuts, to allow Congress to develop a long-term solution.