Employee Retention Tax Credit Consulting
What is the Employee Retention Credit?
The employee retention credit (ERC) is available to employers, including non-profits, whose operations have been fully or partially suspended because of a government order limiting commerce, travel, or group meetings. The credit is also provided to employers who have experienced a greater than 50% reduction in quarterly receipts in 2020 or 20% reduction in quarterly receipts in 2021, measured against the respective 2019 quarters.
All employers should immediately review this legislation change to see if their 2020 payroll costs may qualify and review their situation to see if they can qualify for 2021. Refunds may be immediately available for $5,000 per employee for 2020 and potentially $28,000 per employee for 2021.
Watch our videos below to learn more about the employee retention tax credits.
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