07/29/2022
What is the Employee Retention Credit (ERC)?
ERC is a stimulus program designed to help those businesses that were able to retain their employees during the Covid-19 pandemic.
Established by the CARES Act, it is a refundable tax credit — a grant, not a loan — that you can claim for your business. The ERC is available to both small and mid-sized businesses. It is based on qualified wages and healthcare paid to employees.
-Up to $26,000 per employee
-Available for 2020 and the first 3 quarters of 2021
-Qualify with decreased revenue or COVID event
-No limit on funding
-ERC is a refundable tax credit