Coronavirus Tax Credits: What You Should Know About Employer Retention & Families First Credits

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The Employee Retention Tax Credit(ERTC)is a provision in the CARES Act that supplies a tax credit to certified employers. There are some differences in how your credit is computed based on your business’ number of staff members. You can claim 50% of these earnings per staff member– a credit of $5,000/ worker. Thirty workers are not working but are still getting pay, and each worker is making $5,000 throughout this period. Employers can declare both the ERTC and FFCRA tax credits for eligible employees.

The Employee Retention Tax Credit(ERTC)is a provision in the CARES Act that provides a tax credit to certified employers. You can claim 50% of these earnings per staff member– a credit of $5,000/ employee. Thirty workers are not working however are still receiving pay, and each worker is making $5,000 during this period.

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