One of the perhaps more impactful provisions in the bipartisan infrastructure bill that was released by Senators this past Sunday would end the employee retention tax credit (ERTC) as of September 30. The ERTC is a refundable tax credit equal to 50% of payroll-related costs up to a maximum credit of $5,000 per employee for 2020 and $7,000 per employee per quarter for the first two quarters of 2021. Initially established by the CARES Act in March 2020, the credit was designed as a vehicle to help businesses retain employees. It was amended last December and then again by President Biden’s COVID relief bill, the $1.9 trillion American Rescue Plan Act (ARPA), which extended the expiration date to December 31.  Now, if this latest trillion-dollar legislation passes Congress, it will move the later expiration date back to September 30. The Senate plans to pass the infrastructure package before their August recess begins next week. The House returns in September. Keep an eye on the infrastructure bill, stay tuned!