What is the Employee Retention Credit (ERC)?
COVID-19 has been a challenge for all of us. As the world shut down the economy came to a halt, leaving the future of many businesses in a precarious position. As we begin to find normalcy again, businesses now have to focus on recovering and fortunately, several government programs are easing this process.
- Up to $26,000 per employee
- Available for 2020 and 1st through 3rd quarters of 2021
- Qualify with decreased revenue or COVID event
- No limit on funding (ERC is not a loan)
- ERC is a refundable tax credit