S. 3552 aims to modify the Taxpayer Certainty and Disaster Tax Relief Act of 2020 to allow tax-exempt organizations affected by qualified disasters to use the employee retention credit against Medicare hospital insurance taxes. Specifically, it will amend relevant sections of...
Simple Explanation
S. 3552 is a plan to help some non-profit groups hit by big disasters use a special tax break to lower certain health care taxes they pay, just like they were allowed in 2020, making it easier for them to keep paying their workers.