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The employee retention tax credit (ERTC) allows eligible employers to claim a payroll tax credit of up to $5,000 per employee for qualified wages paid while closed or having reduced operations due to COVID- 19. The credit is computed as 50% of up to $10,000 in qualified wages paid to an eligible employee.

New Employer Tax Credits: The Employee Retention Credit

The IRS has issued Publication 5419 to assist employers with the application of the employee retention credit.

Employee Retention Credit

The IRS has posted information regarding the employee retention credit on their website here.

Subscribe to Employee Retention Tax Credit (ERTC)