What is the Employee Retention Credit (ERC)?

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ERC is a stimulus program designed to help those businesses that were able to retain their employees during the Covid-19 pandemic.

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Initially, under the CARES Act of 2020, businesses were not able to qualify for the ERC if they had already received a Paycheck Protection Program (PPP) loan. With new legislation in 2021, employers are now eligible for both programs.

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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.

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How much money can you get back?

• Max credit of $26,000 per employee (average actual credit is approximately $10,000 per employee)

• Available for 2020 and the first 3 quarters of 2021

• Qualify with decreased revenue or COVID event

• No limit on funding

• ERC is a refundable tax credit

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We are currently only working with companies that have 10 or more W-2 employees.

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