Employee Retention Credit for Law Firms - Up to $28,000 per employee for 2021

Mar 11, 2021

2021 Simple Summary

  • 2021 Quarterly revenue is down 20% or more from 2019
  • $7,000 per employee per quarter maximum (70% credit on first $10,000 of wages)
  • 2021 Q1 and Q2 covered under current law
  • Expands to 2021 Q3 and Q4 under pending American Rescue Plan Act
  • Can be combined with PPP draw 2, but wages must be allocated into each program. No double-dipping.

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