The Employee Retention Tax Credit(ERTC)is a provision in the CARES Act that offers a tax credit to certified employers. You can declare 50% of these salaries per worker– a credit of $5,000/ staff member. Thirty staff members are not working but are still getting pay, and each staff member is earning $5,000 throughout this period.
The Employee Retention Tax Credit(ERTC)is a provision in the CARES Act that provides a tax credit to certified employers. There are some distinctions in how your credit is calculated based on your service’ number of workers. You can claim 50% of these salaries per staff member– a credit of $5,000/ worker. Thirty workers are not working but are still receiving pay, and each staff member is earning $5,000 during this duration. Companies can claim both the ERTC and FFCRA tax credits for eligible workers.
