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RESOURCES FOR SMALL BUSINESSES, WORKERS AND FAMILIES
Emergency Resources for Business
Tax credits enabled through CARES Act
Employee Retention Credit
The U.S. Treasury and IRS launched the Employee Retention Credit on March 31, 2020. Eligible entities can receive a refundable payroll tax credit for 50% of up to $10,000 in qualified wages for retaining idled workers on their payrolls during the COVID pandemic.
Qualified wages are based on the average number of a business’s employees in 2019. If the employer had more than 100 employees on average in 2019, then the credit is allowed only for wages paid to employees who did not work during the calendar quarter. For eligible employers with under 100 employees, all employee wages qualify for the credit. The credit is capped at the first $10,000 of compensation, including health benefits. The provision is effective for wages paid or incurred from March 12, 2020 to January 1, 2021.
Delay Payment of Employer Payroll Taxes
All employers and self-employed individuals may defer the 6.2% employer share of Social Security taxes for two years. Fifty percent of the deferred payroll taxes are due on December 31, 2021, and the remaining amounts are due on December 31, 2022.
Additional Tax Changes
Visit IRS FAQ to help small and midsize businesses navigate Paid Sick and Family Leave Tax Credits
NOTE: Penalties and interest for late payment of sales taxes owed from February through April will be waived for eating and drinking establishments that incurred a sales tax responsibility of less than $75,000 in CY2019.
Chicago COVID-19 Loan Support
Chicago Community Loan Fund
Pop Up Call Center
Hours of Operation: May 18 - May 31, Monday - Friday, 8am - 8pm
Emergency Resources for Workers
Worker relief enabled through CARES Act
Online filing (any time of day, except 8pm to 10pm for processing):
Call Center Filing Schedule:
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