Tax Senior Manager
615.416.6892
Nashville, TN
The Employee Retention Tax Credit (“ERTC”) was launched as part of the CARES Act to incentivize employers to retain employees during the pandemic by offering a refundable tax credit that can be applied against employment taxes. Subsequent legislation adjusted the rules surrounding employee retention tax credit including allowing companies that received PPP loans to qualify and extending the tax credit through December 31, 2021.
If your company was significantly affected by the pandemic, you may qualify for ERTC. Frazier & Deeter helps companies every step of the ERTC process including qualification, documentation and reconciliation, as well as, following with new regulations. Learn more about ERTC eligibility and Frazier & Deeter’s and how Frazier & Deeter can help you.
For 2020, the credit is computed at a rate of 50% of qualified wages paid up to a maximum of $10,000 of wages for the year resulting in a maximum credit of $5,000 per eligible employee.
For January 1st through June 30, 2021, the credit is computed at a rate of 70% of qualified wages paid up to $10,000 per quarter, resulting in a maximum credit of $7,000 per quarter per eligible employee.
*Additional rules and limitations apply
Tax Senior Manager
615.416.6892
Nashville, TN