Employee Retention Credit (ERC)

CAN Claim if:

Company's operations are fully or partially suspended due to COVID-19
Gross receipts are under 50% of last years during the same quarter

CANNOT Claim if:

Company receives PPP or wages for which employer received tax credit under FFCRA
Wages are already counted for credit under emergency paid sick leave or family & medical leave programs
Employer is allowed a Work Opportunity Tax Credit

If credit exceeds tax amount due, will be treated as overpaymentn and applied to future payroll liabilities or refunded at end of quarter. Form 7200 for advance payment.
** if more than 100 employees, can only receive credit if operations are fully suspended