Cares Act Employee Retention Credit Receivable

9 Months Ended

Sep. 30, 2022

Cares Act Employee Retention Credit Receivable

Cares Act Employee Retention Credit Receivable

12. Cares Act Employee Retention Credit Receivable

Prepaid expenses and other assets and interest and other income include $2.0 million, net of fees resulting from Employee Retention Credits (“ERC”) claimed on amended Internal Revenue Service (“IRS”) quarterly federal tax returns (“941s”) filed during the quarter. The ERC was established by the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”). The CARES Act allows relief to business affected by the coronavirus pandemic, by providing payments to employers for qualified wages. The Company amended 941s for the periods from April 1, 2020, to September 31, 2021.