New credits are helping businesses keep employees from the IRS.

The first credit is the employee retention credit, which is designed to keep employees on the payroll. This is available to any size business and nonprofit.

If you received the PPP, though, you are not eligible for this credit. This could be a refundable tax credit of 50%.

​"A maximum credit of up to $5,000 per employee,” said CPA and Senior Counsel for Bonadio John Marshall. “To qualify, the company must have either been fully or partially suspended due to COVID-19 or the company's gross receipts wound up below the comparable quarter in 2019."

Marshall added a second credit is the paid sick leave credit. The IRS allows a business up to $511 per day for up to 10 days for an employee who is unable to work because of coronavirus.

The third credit is to cover family leave needs due to COVID-19 or caring for children at home. Employees can receive paid sick leave for up to two weeks, up to 80 hours, at two-thirds the employee's regular rate of pay or, up to $200 per day and $2,000 in total.

Employees are also entitled to paid family and medical leave equal to two-thirds of the employee's regular pay, up to $200 per day and $10,000 in total. Up to 10 weeks of qualifying leave can be counted towards the family leave credit.

Marshall knows these credits can be confusing, and companies should seek the guidance of a tax professional.​