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Are you Eligible for the Employee Retention Credit?

Posted by Carlin Culbertson on Mar 7, 2021 12:06:34 PM

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The Employee Retention Credit (ERC) is a refundable payroll tax credit based on the qualified wages an eligible employer pays to employees. Eligible employers include businesses, tax-exempt organizations, and certain governmental entities.

Key Information:

    • Refundable Payroll Tax Credit reported on Form 941 (or an amended 941 for a past period)
    • Advance payment of the credit may be available
    • PPP Borrowers are eligible for the ERC
    • Qualified Wages include wages paid and health plan expenses
    • The full-time employee calculation is based on a 30-hour week (130 hours per month)

Download summary here.


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Topics: Small Business, Accounting & Auditing, Accounting and Tax Resource, COVID-19

Carlin Culbertson

Carlin Culbertson

With over 15 years in public accounting, Carlin has extensive auditing experience serving a wide variety of clients in various industries, including construction, manufacturing, mining, biotechnology and distribution.