You will have a chance to get your money

General

You should understand what the employer retention credit is if you want to know what you will qualify for. This is because the IRS says that you can only get this credit if your employer was forced to shut down due to the coronavirus pandemic. You must also be paid at least $5,000 between March 13, 2020 and Dec. 31, 2021.

If you are employed and paid by the hour, this means you must be paid at least $5,000 for 60 hours of work each week, or $30,000 for the entire year. These conditions apply for all companies that are eligible for ERC. The credit Employee Retention Credit will be paid monthly on the 13th day of the month. If you don’t have enough money to pay for the credit, you can ask for a deferment. This is the only way you can get a refund.

You will have a chance to get your money back if you meet the following requirements. You must have been paid at least $5,000 from March 13, 2020 to Dec. 31, 2021. You must have worked at least 30 hours each week, or 1,200 hours in total, between those dates.

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