severely financially distressed employer
Defined in 1 place of the United States Code.
The term "severely financially distressed employer" means an eligible employer as defined in paragraph (2), determined by substituting "less than 10 percent" for "less than 80 percent" in subparagraph (A)(ii)(II) thereof.
Source
- 2021–present26 U.S.C. § 3134Internal Revenue Code · Employee retention credit for employers subject to closure due to COVID–19 · for purposes of this section