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What’s the Employee Retention Credit (ERC)?

It’s a fully refundable tax credit for a percentage of the qualified wages you pay employees. It’s applied to your federal payroll tax liability. Any excess credit amount is refundable. 

How does the ERC work?

For 2020, the Employee Retention Credit is 50% of all qualified wages you paid employees between March 12, 2020, and Dec. 31, 2020. It’s limited to $10,000 in wages per employee for all quarters. Therefore, you could claim a maximum credit of $5,000 for each employee. 

For 2021, the credit is 70% of all qualified wages you pay employees from Jan. 1, 2021, through December 31, 2021. It’s limited to $10,000 in wages per employee for any quarter. Therefore, you can claim a maximum credit of $7,000 for each employee in every quarter.  

Credit Guide






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