The COVID-19 stimulus package allows for a refundable tax credit of $7,000 per employee, per quarter based on a 70% tax credit for qualified wages up to $10,000 through the first two quarters of 2021.
ALERT: Consideration must be made prior to completing this form. Employers must review eligibility with their CPA or Tax Accountant to ensure that your company is eligible for the ERTC or have plans to apply for other programs in 2021. PayData is not responsible for determining ERTC eligibility.
Please refer to this website for eligibility guidelines:
https://www.irs.gov/newsroom/new-law-extends-covid-tax-credit-for-employers-who-keep-workers-on-payroll
PayData ERTC Service fees do apply in calculating the value of the ERTC credits. Client understands and agrees to PayData ERTC service fee of 5% of the clients approved ERTC credit amount, with a cap of $1,000 per quarter. The service fees will be debited within the next 30 days or the company's next payroll, whichever comes first.
To begin applying the 2021 ERTC credit, please complete this 2021 ERTC Credit Request form.