Keep Your Employees on the Payroll with the ERC"

The Employee Retention Credit is a tax credit that is available to employers who are experiencing economic hardship as a result of the COVID-19 pandemic. The credit is designed to help employers keep their employees on the payroll and to incentivize the hiring of new employees.

To be eligible for the Employee Retention Credit, an employer must meet one of the following criteria:

1. The employer's business has been fully or partially suspended due to a government order related to the COVID-19 pandemic.
2. The employer's gross receipts for a calendar quarter are less than 50% of the employer's gross receipts for the same calendar quarter in the prior year.

If an employer meets one of the above criteria, it may be eligible for a credit of 50% of the qualified wages that it pays to its employees, up to a maximum credit of $5,000 per employee per calendar year. The credit is claimed on the employer's quarterly employment tax return (Form 941).

I recommend that you click on this link to find out the Employee Retention Credit, including information on how to calculate the credit and how to claim it on your tax return. To begin your ERC or have questions click below

EMPLOYEE RETENTION CREDIT

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