American Rescue Plan extends employee retention credit

April 27, 2021

The American Rescue Plan extends the employee retention creditPDF for businesses. The credit is now available through December 2021.

The credit is available to businesses that have seen revenues decline or had to temporarily shut down their operations due to government orders related to COVID-19. Businesses that qualify can take the credit for a portion of the wages they pay to some or all their employees, up to $7,000 per employee for each quarter. The maximum credit is $28,000 for an employee for 2021.