ERTC Guidance, Federal Relief, Let's Talk on International Women's Day

The Illinois Restaurant Association continues to engage with local, state, and federal officials to help employers and employees address concerns about COVID-19.

Please see the below resources and information for your business - updated as of 7:55 p.m. on Wednesday, March 3.

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Employee Retention Tax Credit (ERTC) Updates for Restaurants, Webinar Tomorrow

Good news for restaurants eagerly awaiting the opportunity to claim Employee Retention Tax Credits (ERTC) for 2020 – the IRS recently released its guidance for eligible businesses accessing up to $5,000 per employee in 2020 as long as it does not directly intersect with PPP payroll funds.

The National Restaurant Association has released a fact sheet on the ERTC to help members discuss this opportunity with their tax and accounting team.

The guidance in Notice 2021-20 makes major changes for those restaurants who accessed PPP in 2020, and permits many restaurants to access a credit is equal to 50 percent of qualified wages paid, including qualified health plan expenses, for up to $10,000 per employee in 2020. The maximum credit available for each employee is $5,000 in 2020.

Notice 2021-20 also provides answers to questions such as:

• Who are eligible employers;

• What constitutes full or partial suspension of trade or business operations;

• What is a significant decline in gross receipts;

• How much is the maximum amount of an eligible employer’s employee retention credit;

• What are qualified wages;

• How does an eligible employer claim the employee retention credit, and;

• How does an eligible employer substantiate the claim for the credit.

Click here to register for a webinar tomorrow, Thursday, March 4 at 12:00 p.m. (Central) on ERTC, PPP 2nd Draw, and the $25B Restaurant Revitalization Fund.

Help Us Get Federal Restaurant Relief Across the Finish Line!

Almost one year has passed since indoor dining was shut down and restaurants began an economic freefall. Since then, we have been clear that a restaurant-specific solution is needed to save our community restaurants.

That solution – the $25 billion Restaurant Revitalization Fund (RRF) – is incredibly close to landing on President Biden’s desk. The Senate is about to take up the American Rescue Plan but we can’t take for granted that the RRF is a done deal.  

Yesterday, the National Restaurant Association released its sixth national survey of its membership – with responses from every kind of restaurant in every community. The results speak for themselves.

• Thirty-two percent of operators think it will be 7-12 months before business conditions return to normal for their restaurant, while 29% think it will be more than a year. An additional 10% of operators say business conditions will never return to normal for their restaurant.

• Fourteen percent of restaurant operators say they will “probably” or “definitely” be closed within three months if there are no additional relief packages from the federal government.

The Association wrote Congress yesterday to share their findings and urge action. The White House last night issued a press release about the letter, providing fantastic amplification of our industry’s message and our efforts for the past year. 

We are asking a lot of you, but we cannot stop for a moment. Please click here to urge Congress to pass the American Rescue Plan and the Restaurant Revitalization Fund.

Celebrate International Women's Day with Let's Talk Womxn

Join all of Chicago on Monday, March 8 and celebrate International Women’s Day with the Let’s Talk Womxn of Chicago. Order a takeout surprise multi-restaurant menu by 18 of Chicago’s leading women restauranteurs, and join a zoom conversation from 7:00 to 8:00 p.m. with the Let’s Talk Womxn moderated by Congresswoman Marie Newman.

Click here to book your dining experience today.

Let’s Talk is a positive action-led movement of 350+ women restaurateurs across 12 cities. It is delighted to unite nine cities around the country to Dine Together on IWD including Chicago, DC, Atlanta, Philadelphia, Phoenix, Lexington, Cincinnati, Boston and Bay Area/SF.

Click here to visit the Let's Talk Womxn website.

Read more about Let's Talk from The Today Show.

Chicago, Cook County Allow 50% Occupancy, 1:00 a.m. Liquor Sales, Divided Spaces

Yesterday, the city of Chicago announced that, effective immediately, indoor capacity at restaurants, bars, and events can increase to 50% or 50 people within one room or space (whichever is less) and establishments can remain open for on-site liquor service until 1:00 a.m.

Additionally, larger establishments that can fit more than 50 people within a room at 50% capacity can use impermeable barriers such as plexiglass in order to divide rooms into multiple spaces. Provided that these spaces are fully divided by impermeable barriers, and that tables are six feet apart with no more than six people per table, establishments may have the lesser of 50% capacity or 50 people within each space.

Click here to read the full announcement from the city of Chicago.

Click here to review the updated regulations for restaurants and bars in Chicago.

Cook County, which had recently aligned its reopening measures with the city of Chicago, made an official announcement yesterday evening that it will adopt similar measures for restaurants, bars, and events.

Click here to review current guidelines for suburban Cook County.

Read more:

• Eater Chicago - Chicago Eases COVID-19 Indoor Dining Restrictions

National Restaurant Association Show Cancelled, Refunds Available

The National Restaurant Association Show scheduled for May 22-25 in Chicago has been cancelled due to the ongoing impact of COVID-19 and current gathering restrictions.

Anyone who paid the registration fee to attend can apply their registration to the 2022 Show or request a refund, and are asked to make their selection by March 19, 2021. While most IRA Operator members who register to attend the Show take advantage of the free badge they are entitled to, we know some pay for additional badges.

Registrants have the opportunity to apply their registration to the 2022 Show or request a refund. Please click here to be directed into your account to make your selection by March 19, 2021.

If you booked your hotel through our housing partner, onPeak, it will be cancelled automatically. If you reserved your room through another service, we suggest that you contact your hotel personnel right away in order to avoid penalties.

Contact nraregistration@winsightmedia.com with any questions.