It’s not too late to claim the Employee Retention Tax Credit. Companies have three years to claim up to $5,000 per employee for 2020 and up to $7,000 per employee per quarter for 2021.
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Need to know: ERTC
The Employee Retention Tax Credit (ERTC) under the CARES Act is a fully refundable payroll tax credit. Significant updates to the ERTC were finalized by the Consolidated Appropriations Act in December 2020, the American Rescue Plan Act in March 2021, as well as the Infrastructure Investment and Jobs Act in November 2021.