Long Business Description Employee Retention Credits are a refundable credit that employers can take against their Social Security taxes to retain or rehire employees during the COVID-19 pandemic. This credit is available to employers whose operations were fully or partially suspended due to government orders, or if their gross receipts decreased by more than 50% compared to the same quarter in the prior year. The credit is equal to 50% of qualified wages paid to each employee from March 13, 2020 through December 31, 2020, up to a total of $10,000 of wages paid per employee for the year.
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Employee Retention Credits are a refundable credit that employers can take against their Social Security taxes to retain or rehire employees during the COVID-19 pandemic. This credit is available to employers whose operations were fully or partially suspended due to government orders, or if their gross receipts decreased by more than 50% compared to the same quarter in the prior year. The credit is equal to 50% of qualified wages paid to each employee from March 13, 2020 through December 31, 2020, up to a total of $10,000 of wages paid per employee for the year.
[video width="1920" height="1080" mp4="https://www.labanjohnson.com/wp-content/uploads/2022/12/Claimed-Your-Erc-1080p.mp4"][/video]
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