ERC is a payroll tax refund that incentivizes businesses to keep employees on their payroll. While the original COVID-19 relief bill only allowed companies to take either PPP or ERTC, a new credit version will enable businesses to claim both.
A qualified professional service can help you navigate this complicated process. They can evaluate your eligibility, collect all the necessary documents, and offer program expertise that a regular CPA or payroll processor might need to have.
The ERC is a refundable payroll tax credit established in the CARES Act. This credit is treated like a refund and can return up to $26,000 per retained employee.
The ERC can help businesses affected by the COVID-19 pandemic, and it is designed to encourage employers to keep their employees on during this difficult time. To qualify, your business must have significantly declined in gross receipts during either 2020 or …