Tag: Employee Retention Credit
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The Employee Retention Credit: What You Need to Know
The Employee Retention Credit (ERC) was a temporary U.S. federal tax credit designed to encourage businesses to retain employees during the COVID-19 pandemic. It’s no longer available as of January 1, 2022. However, understanding its details can still be helpful for various reasons, such as: Here’s a summary of the key points about the ERC:…
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What is the Employee Retention Credit? (ERC)
The Employee Retention Credit (ERC), also known as the Employee Retention Tax Credit or ERTC, is a refundable tax credit designed for eligible businesses and tax-exempt organizations that had employees and were affected during the COVID-19 pandemic. Here’s a detailed overview: Overview Eligibility Criteria Credit Calculation Limitations Claiming the Credit Voluntary Disclosure Program This credit…