# erc tax credit

TAS Tax Tip: Don’t Fall Victim to an Employee Retention Credit Scheme » Aggressive marketers and scammers have their targets set on the Employee Retention Credit (ERC). You may have seen television commercials or received emails promising employers payouts of this pandemic-related refundable tax credit. Taxpayeradvocate.irs.gov

IRS Places Moratorium on New Employee Retention Tax Credit Processing » On September 14, 2023, the Internal Revenue Service (IRS) released Employee Retention Credit (ERC) guidance placing a moratorium on processing new ERC claims due to a surge in questionable claim submissions. Ogletree.com

Here's what tax pros recommend after the IRS halts processing for small business tax credit » As the IRS pauses on processing new employee retention tax credit claims, some filers are in limbo as the agency works on further guidance. Here's what to know. Cnbc.com

Small Business Tax Credit Programs » Employee Retention Credit The American Rescue Plan extends the availability of the Employee Retention Credit for small businesses through December 2021 and allows businesses to offset their current payroll tax liabilities by up to $7,000 per employee per quarter. This credit of up to $28,000 per employee for 2021 is available to small businesses who have seen their revenues decline, or even been temporarily shuttered, due to COVID. For FY2020 For 2020, the ERC is a tax credit against certain payroll taxes, including an employer’s share of social security taxes for wages paid between March 12, 2020 and December 31, 2020.  The tax credit is 50% of the wages paid up to $10,000 per employee, capped at $5,000 per employee.  If the amount of the tax credit for an employer is more than the amount of the employer’s share of social security tax owed, the excess is refunded – paid – directly to the employer.  If your business is eligible for the ERC for 2020 and you have not yet claimed the credit, you can f Home.treasury.gov