The Employee Retention Tax Credit Helps Keep Workers Working for Employers Who Did Not Receive PPP Monies
The Employee Retention Tax Credit Helps Keep Workers Working
Employers can received a credit against their payroll taxes of up to $5,000 per paid employee offsetting the employer’s 6.2% share of Social Security taxes. Those who received a loan under the PPP Program are not eligible for this additional credit.
The credit is calculated as 50% of all qualified wages (including healthcare premiums paid in a given calendar quarter. Maximum qualified wages for all qualified wages is $10K resulting in a maximum credit for any employee $5,000.
https://www.kiplinger.com/article/taxes/T054-C005-S011-employee-retention-tax-credit.html