New Provisions for the Employee Retention Tax Credit
Did you pay employees in 2020 or 2021 even though they were not performing services? You may be eligible for a maximum tax credit of $5,000 per employee in 2020 and $28,000 per employee in 2021.
What’s the latest on the Employee Retention Tax Credit?
The latest legislation, the Employee Retention Tax Credit (ERTC) now allows for retroactive amendments for this refundable tax credit. Originally the CARES Act (Coronavirus Aid, Relief, and Economic Security Act) stated that you could not appl