To amend the CARES Act and the Internal Revenue Code of 1986 to modify the treatment of related individuals under the employee retention tax credit.

In general— Section 2301(e) of the Coronavirus Aid, Relief, and Economic Security Act is amended by inserting “(applied without regard to the phrase “(determined with the application of section 267(c))” in subparagraph (A) thereof)” after “51(i)(1)”.

Effective date— The amendment made by this subsection shall apply to wages paid after March 12, 2020.

In general— Section 3134(e) of the Internal Revenue Code of 1986 is amended by inserting “(applied without regard to the phrase “(determined with the application of section 267(c))” in subparagraph (A) thereof)” after “51(i)(1)”.

Effective date— The amendment made by this subsection shall apply to wages paid after June 30, 2021.