What is The Employee Retention Credit (ERC)?
The COVID-19 pandemic has had a massive impact on both big and small businesses worldwide. It was one of the greatest financial crises the nation had ever experienced, with complete shutdowns and supply chain disruptions. As a result, the Cares Act was just passed by Congress, which gives refundable tax credits to employers who kept their W2 employees during the pandemic.
ERC is a program that not many people are familiar with, unlike EIDL or PPP. Due to this, the ERC went largely unnoticed, and few CPAs were familiar with its operation. Here, we have a staff of qualified accountants who are experts in assisting business owners in obtaining the maximum credit that is permitted.
