At Incentives Scout we care and we understand how challenging these times are for you and your business. We are here to help.
Our unique process prioritizes efficiency and quality, with the goal of providing the most comprehensive deliverable while minimizing the impact to your business operations.
The Employee Retention Credit is a fully refundable tax credit.
For 2020, the Employee Retention Credit is 50% of all qualified wages you paid employees between March 12, 2020, and Dec. 31, 2020. It's limited to $10,000 in wages per employee for all quarters. Therefore, you could claim a maximum credit of $5,000 for each employee.
For 2021, the credit is 70% of all qualified wages you pay employees from Jan. 1, 2021, through Dec. 31, 2021. It's limited to $10,000 in wages per employee for any quarter. Therefore, you can claim $7,000 for each employee in every quarter. The maximum credit is $28,000 per employee.
Am I Eligible?
Nearly any employer, regardless of size, is eligible for Employee Retention Credit from March 12, 2020, to December 31, 2021. If your business:
Is fully or partially suspended due to a governmental order related to COVID-19.
Experiences a significant decline in gross receipts during a calendar quarter in 2020 or 2021.
Experiences customer or supplier disruptions due to their closures.
How can Apply?
With professional help, the process is pretty simple. We just need some basic information and we do all the work in order to calculate your eligible credit.