In the bulletin dated March 15, the IRS included guidance for employers who received Paycheck Protection Program loans and can also receive the 50% employee retention tax credit. While the Coronavirus Aid, Relief, and Economic Security Act
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The weekly publication also highlighted adjustments to housing expense limits for determining the housing cost tax exclusion available to individuals living and earning income abroad for the 2021 tax year, as well as population figures for the low-income housing credit and other purposes.
--Additional reporting by Amy Lee Rosen. Editing by Vincent Sherry.
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