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EMPLOYEE RETENTION TAX CREDIT (ERTC / ERC)
What is the ERC?
The Employee Retention Credit (ERC) was authorized under the CARES Act and encourages businesses to keep employees on the payroll.
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The 2020 ERC Program is a refundable tax credit of 50% of up to $10,000 in wages paid per employee from 3/13/2020 – 12/31/2020 by an eligible employer. THAT’S $5,000 PER EMPLOYEE!
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The 2021 ERC Program has increased to 70% of up to $10,000 in wages paid per employee per quarter for quarters 1, 2, and 3. THAT’S POTENTIALLY UP TO $21,000 PER EMPLOYEE!
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