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CARES Act Employee Retention Credit

If you did not receive a Paycheck Protection Program loan, you may be eligible for an Employee Retention Credit of up to $5,000 per employee. This credit is calculated based on employee wages paid, and then claimed when filing the quarterly IRS Form 941. Don’t neglect this funding!

Eligible employers are those whose business has either: 1) been fully or partially suspended by government order during the calendar quarter or 2) whose receipts are less than 50% of the comparable 2019 quarter.

We have included a calculation page within our COVID19 Spreadsheet. Keep in mind that this credit can be claimed during the 2nd, 3rd, and/or 4th quarters of 2020.