Many employers have already claimed millions of dollars in tax credits through the Employee Retention Tax Credit (ERTC). Those employers that have not yet claimed (or incorrectly claimed) any ERTC may still do so retroactively by filing amended payroll tax returns for tax years 2020 and 2021.
Specifically, qualifying employers can claim the ERTC based on the qualifying wages they paid to their employees from March 13, 2020, through Sept. 30, 2021. A qualifying employer is one whose trade or business was fully or partially suspended during a calendar quarter due to governmental orders that limited commerce, travel or group meetings due to COVID-19.