The Employee Retention Tax Credit (ERC) is a refundable tax credit meant to encourage employers to keep their staffing during the COVID-19 pandemic. The CARES Act was signed into law on March 27, 2020. In 2021, the bill was greatly expanded. Businesses in the lower-middle market can apply for the Employee Retention Credit. COVID-19 affected businesses can claim up to $5,000 in refundable tax credits for the year 2020 and up to $7,000 per quarter (except Q4) in 2021.
What is the Employee Retention Credit (ERC)?
March 15, 2025
