What is ERC? Is your business eligible to apply?
The Employee Retention Credit (ERC) is a fully refundable tax credit for employers equal to 50 percent of qualified wages for 2020 and 70 percent for 2021 (including allocable qualified health plan expenses) that Eligible Employers pay their employees.
If your business was greatly affected in 2020 or 2021 by COVID-19, from either:
- fully or partially suspended operation during any calendar quarter in 2020, OR
- experienced a significant decline in gross receipts
Then, your business may be eligible for ERC. Find out of you are eligible to apply, today.