The IRS has provided advice for employers on how to claim an employee retention credit on quarterly Form 941 under the coronavirus stimulus legislation. The refundable tax credit is equal to 50% of qualified wages paid to employees after March 12, 2020, and before January 1, 2021. If an employer paid any qualified wages between March 13, 2020, and March 31, 2020, inclusive, include 50% of those wages together with 50% of any qualified wages paid during the second quarter of 2020 on the second quarter Form 941, 941-SS, or 941-PR to claim the employee retention credit, the IRS stated. Do not include the credit on your first quarter Form 941, 941-SS, or 941-PR, the IRS advised.