The credit is getting extended as part of the American Rescue Plan Act, the $1.9 trillion relief package just signed by President Biden. Originally scheduled to end on June 30, ERC will continue through year end, giving business owners access to as much as $33,000 per employee in incentives.
Second-half of 2021:
The new law allows businesses to claim the refundable credit against the employer share of employment taxes (including Medicare) equal to as much as $7,000 per full-time employee per quarter during the last half of the year. So, including the existing provisions, business owners this year would qualify for up to $28,000 per employee.
The same eligibility rules apply in the last two quarters of 2021: your company must have experienced a full or partial shut down or at least a 20 percent drop in quarterly gross receipts in 2021.
Source: What You Need to Know About the Employee Retention Credit and Your Taxes | Inc.com