Employee Retention Credit: What Organizations Should Know

Thoughtware Resource Published: Jun 30, 2020 | Updated: Jan 11, 2021
2020 COVID-19 Webinar Series

The Coronavirus Aid, Relief, and Economic Security Act, passed on March 27, 2020, provides a refundable tax credit against certain employment taxes equal to 50 percent of up to $10,000 of qualified wages (including certain health plan costs) that an eligible employer pays to employees after March 12, 2020, and before January 1, 2021. The Taxpayer Certainty and Disaster Relief Act of 2020, passed on December 27, 2020, expanded the credit through June 30, 2021, and provided several favorable enhancements to the credit for 2021. Read on for more details.

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