$26,000 per Employee
Enjoy Tax Credits up to $26,000! per Employee
Under Employee Retention tax Credit
(ERC) Stimulus Program.
What is ERC?
The Employee Retention Credit (ERC) was authorized under the CARES Act and encourages businesses to keep employees on the payroll.
The 2020 ERC Program is a refundable tax credit of 50% up to $10,000 in wages paid per employee from 3/12/20-12/31/20 by an eligible employer. THAT’S UP TO $5,000 PER EMPLOYEE!
The 2021 ERC Program has increased to 70% up to $10,000 in wages paid per employee per quarter for the first 3 quarters of 2021. THAT’S UP TO $26,000 PER EMPLOYEE"
Eligible Employers for the purposes of the Employee Retention Credit are employers that carry on a trade or business during calendar year 2020, including tax-exempt organizations, that either:
Fully or partially suspend operation during any calendar quarter in 2020 due to orders from an appropriate governmental authority limiting commerce, travel, or group meetings (for commercial, social, religious, or other purposes) due to COVID-19; or
Experience a significant decline in gross receipts during the calendar quarter.