Is your business eligible for the Employee Retention Credit?
Because the coronavirus has negatively affected so many businesses nationwide, a number of coronavirus payroll tax credits are available to help employers out. One option is the Employee Retention Credit (ERC).
The ERC is a CARES Act relief measure for businesses. It is a fully refundable tax credit that eligible employers who are able to keep employees on payroll can claim.
How much is the credit?
For 2020: The maximum ERC is $5,000 per employee.
For 2021: The maximum ERC is $7,000 per employee, per quarter for the first two quarters of the year, with a total maximum ERC of $14,000 per employee.
Several factors affect eligibility for ERC. We can help determine if you qualify. Please fill out the form below to get started.