Employee Retention Credit
The Employee Retirement Income Tax Credit (ERTC) is a tax credit that eligible employers can claim for a percentage of their employees' wages. It was originally only available to companies affected by the COVID-19 pandemic, but the rules have changed since then.
What is the Employee Retention Credit?
The ERC (Employee Retirement Relief) is a payroll tax credit that's available to businesses affected by the COVID-19 pandemic. It's made possible by the CARES Act, which was passed by Congress. If you're eligible, you can get up to a $5k refund for 2020 and a $7k refund for each quarter from Q1 to Q3 in 2021. That adds up to a total of $26k for every employee you keep on your payroll.
Many businesses have not yet claimed their credit, but with the expansion of the program, you still have a limited amount of time to file and claim your refund. So don’t leave any money you are eligible for on the table. Allow us to assist your business in securing the maximum credit amount.
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