Employers: The Employee Retention Credit (ERC) is a tax credit for employers (not for individual employees). Take advantage of the new COVID-19 Employee Retention Credit (ERC) while it’s still available. If your business or non-profit continued to pay employees on payroll despite the pandemic, governmental orders, and supply chain problems, you have an excellent chance of substantial relief. Many businesses did not qualify at the beginning of the program, but may qualify under revisions of the Cares Act. You can still apply.
The Employee Retention Credit (ERC) is a payroll tax refund for employers (not individual employees), born out of the same COVID relief bill as the Payroll Protection Program (PPP) which incentivized businesses who kept employees on payroll during the pandemic. That’s great news.
The Employee Retention Tax Credit (ERC) is a tax credit designed to reward employers (not individual employees) for keeping employees throughout the COVID-19 pandemic. The ERC is available to both small and mid-sized businesses. It was signed into law in March 2020, as part of the CARES Act. The bill was then significantly expanded in 2021. Your business can claim ERC even if you received PPP funds.
Employers who were impacted by COVID-19 can claim up to $5,000 in refundable tax credits for each employee on their payroll in 2020 and up to $7,000 credit per quarter (for the first three quarters of 2021) for each employee. That is a total of $26,000 per employee.
Our team will conduct a free consultation to help you find out if you as an employer qualify, and how much of a refund you are entitled to.
The Employee Retention Credit is a credit available to employers (not to individual employees) who employed people on payroll during 2020 and 2021.
Get a Free Consultation to see if your business qualifies. Fill out the form at right.
Or call us at 702-463-1818.