The federal government established the employee retention credit to provide a refundable employment tax credit to help businesses with the cost of keeping staff employed.
If your active business was affected by COVID-19 in 2020 and 2021 you are eligible for up to $10,000 per employee. Sound familiar?
That is because it is a familiar program. ERC has been around for a while. This program is to be compared to the payroll protection program Aka PPP LOAN.
The difference is the ERC will not pull your personal credit as if it is a loan. This is simply a tax credit.
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