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PeopleSoft Payroll for North America Position Statement: Coronavirus Aid, Relief, and Economic Security (CARES) Act - Employee Retention Credit (Doc ID 2673402.1)

Last updated on MAY 22, 2020

Applies to:

PeopleSoft Enterprise HCM Payroll for North America - Version 9.2 to 9.2 [Release 9]
Information in this document applies to any platform.

Purpose

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act, Public Law No. 116-136) was signed into law on 27 March 2020. Section 2301 of the Act allows eligible employers to acquire an Employee Retention Credit against the employer paid portion of Social Security tax for qualified wages paid to employees during the COVID-19 crisis.

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