2020 Coronavirus Aid, Relief, and Economic Security (CARES) Act provides a credit equal to 50 percent of qualified wages and health plan expenses paid after March 12, 2020 and before Jan. 1, 2021. A per-employee $10,000 maximum of qualified 2020 wages (Q2, Q3, Q4).
2021 ERTC increased to 70% of up to $10,000 in wages paid per employee per quarter for Q1, Q2, and Q3. That is a potential of up to $21,000 per employee for 2021 wages.
Are you interested in finding out if you qualify for additional COVID relief from payroll for the years 2020-2021? TaxesPlus has worked with clients to amend client payroll returns to receive over $878,000 to date in additional refunds from the IRS. However, there is a deadline to filing an amended payroll return with the first deadline of July 31st, 2023 – after that the IRS will not accept amendments for Q2 of 2020 which most people were impacted.
The amendment process starts with this first set of questions that we’ll determine if you’re eligible: