Your Business & the Employee Retention Tax Credit
Has your business been financially impacted by the COVID-19 pandemic?
You may now be eligible for Employee Retention Credits (ERC) of up to $26,000 per w2 employee.
The ERC program was created under the Coronavirus Aid, Relief and Economic Security Act (CARES Act) as part of the federal government’s relief program to encourage and reward business owners that retain employees during the COVID-19 pandemic. Recently the policy was amended to enable business owners to qualify for ERC tax credits even if they received PPP loans.
• Not a Loan (does not need to be paid back)
• Funds are not earmarked (spend funds on anything)
Businesses that qualify for both 2020 and 2021 ERC tax credits may receive up to $26,000 per eligible employee.