Note:

Qualified wages up to $10,000 (including certain health plan costs) per employee per quarter were used to determine the Employee Retention Credit amount.

The maximum ERC per employee was $7,000 per quarter for a total of $28,000 annually.

The refundable portion of the ERC will post to IDRS as a TC 766 CRN 296 using the first day of the tax period as the transaction date unless the TC 766/767 is the result of an adjustment with an interest computation date, in which case, the interest computation date should be used as the transaction date.