What Is ERC?
What is the Employee Retention Credit (ERC)?
The Employee Retention Tax Credit was created by the CARES Act. In short form, it is known as ERC or Tax Credit for Employee Retention employers during the COVID-19 pandemic.
It is an economic stimulus program that rewards business owners both essential and non-essential and kept W2 employees on their payroll in 2020 and or 2021. This is an IRS employee retention credit for employers which are 80% plus of all businesses in the US.
If you are a business that needed to shift, pivot and had to implement some type of safety measure or has COVID-related disruptions, or government restrictions that affected your business throughout 2020 and or 2021, you are eligible for the CARES ACT Employee Retention Credit.
- Also check your eligibility here.
It is earmarked up to the $26,000 per employee for business owners who kept employees hired during the pandemic.
- This is a fully refundable tax credit.
- It's paid to you directly via cheque from the IRS.
- It's not a loan.
- You don't have to ask for forgiveness.
- You don't have to pay it back and these funds are not earmarked.
- You don't need to use them for payroll or operating expenses.
- The ERC can be utilized at the discretion of the business owner.
- UP TO $26,000 PER EMPLOYEE
- AVAILABLE FOR 2020 & 2021
- QUALIFY WITH DECREASED REVENUE OR COVID EVENT
- NO LIMIT ON FUNDING (ERC IS NOT A LOAN)
- ERC IS A REFUNDABLE TAX CREDIT
About ERC
Let’s Get Your ERC Credits! We are an agency of experts that help business owners claim their Employee Retention Tax Credit with the IRS.
Let’s Get Your ERC Credits! We are an agency of experts that help business owners claim their Employee Retention Tax Credit with the IRS.