What is the Employee Retention Credit?
March 18, 2023
United States, West Virginia, Palestine
ERC is a government stimulus aid 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 W2 employee
- Qualify with a change in business operations
- Qualify with decreased revenue
- Available for 2020 and the first 3 quarters of 2021
- No limit on funding
- ERC is a refundable tax credit, not a loan
- Qualify for ERC even if you already received PPP
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