There is no employee retention credit application. However, employers can claim the credit on their federal employment tax returns. This usually means claiming the credits on Form 941. This is the Employer’s Quarterly Federal Tax Return form. Employers can amend these forms if they find out later that they qualify for the tax credit.
Is the employee retention tax credit still available?The Employee Retention Tax Credit, which is still open and available, was passed under the CARES Act in 2020 as an incentive for businesses to continue paying employees during the COVID-19 pandemic. The ERTC provides tax refunds based on wages paid to ...
Do you qualify for the employee retention credit?Wages/compensation, in general, that are subject to FICA taxes, as well as qualified health expenses qualify when calculating the employee retention credit. These must have been paid after March 12, 2020 and qualify for the credit if paid through June 30, 2021.
