Employee Retention Credit – Do You Qualify?

The Employee Retention Credit can be applied for wages in either 2020 or 2021. Even if you accepted the PPP loan in 2020, you could still be eligible for the ERC for 2021. Your payroll company should be able to help file your 941-X, amending your 941s for the claimed quarters, and apply for the credit. Otherwise, contact your tax professional for your next steps or to see if you could qualify for the credit retroactively. For more information, keep reading here.