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Eligible Businesses: Claim the Employee Retention 税 Credit

The Employee Retention 税 Credit (ERTC) is a valuable tax break that was extended and modified by the 美国救援计划法(ARPA)该法案于2021年3月颁布. 这里是规则的概要.

Background

早在2020年3月, Congress originally enacted the ERTC in the CARES Act to encourage employers to hire and retain employees during the pandemic. At that time, the ERTC applied to wages paid after March 12, 2020, 在1月1日前, 2021. However, Congress later modified and extended the ERTC to apply to wages paid before July 1, 2021.

The ARPA again extended and modified the ERTC to apply to wages paid after June 30, 2021, 在1月1日前, 2022. 因此, an eligible employer can claim the refundable ERTC against “applicable employment 税” equal to 70% of the qualified wages it pays to employees in the third and fourth quarters of 2021. 除了下面讨论的情况, qualified wages are generally limited to $10,000 per employee per 2021 calendar quarter. 因此, the maximum ERTC amount available is generally $7,000 per employee per calendar quarter or $28,到2021年,每名员工将有10000人.

为了ERTC的目的, a qualified employer is eligible if it experiences a significant decline in gross receipts or a full or partial suspension of business due to a government order. Employers with up to 500 full-time employees can claim the credit without regard to whether the employees for whom the credit is claimed actually perform services. 但, 除非如下所述, employers with more than 500 full-time employees can only claim the ERTC with respect to employees that don’t perform services.

Employers who got a Payroll Protection Program loan in 2020 can still claim the ERTC. 但 the same wages can’t be used both for seeking loan forgiveness or satisfying conditions of other COVID relief programs (such as the Restaurant Revitalization Fund program) in calculating the ERTC.

修改

Beginning in the third quarter of 2021, the following modifications apply to the ERTC:

  • Applicable employment 税 are the Medicare hospital 税 (1.45% of the wages) and the Railroad 退休 payroll tax that’s attributable to the Medicare hospital tax rate. For the first and second quarters of 2021, “applicable employment 税” were defined as the employer’s share of 社会保障 或FICA税(6.2% of the wages) and the Railroad 退休 税 Act payroll tax that was attributable to the 社会保障 tax rate.
  • Recovery startup businesses are qualified employers. These are generally defined as businesses that began operating after February 15, 2020, and that meet certain gross receipts requirements. These recovery startup businesses will be eligible for an increased maximum credit of $50,每季度000, even if they haven’t experienced a significant decline in gross receipts or been subject to a full or partial suspension under a government order.
  • A “severely financially distressed” employer that has suffered a decline in quarterly gross receipts of 90% or more compared to the same quarter in 2019 can treat wages (up to $10,000) paid during those quarters as qualified wages. This allows an employer with over 500 employees under severe financial distress to treat those wages as qualified wages whether or not employees actually provide services.
  • The statute of limitations for assessments relating to the ERTC won’t expire until five years after the date the original return claiming the credit is filed (or treated as filed).

You may have questions about how recent changes in tax laws will affect you or your company. 在ML&R, we leverage our specialty in tax evaluation and preparation to comprehensively address your situation and arrive at the right solution. 请 联系 our firm to see how we can assist you with 商业会计, ,更多的.

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