What You Need to Know About the ERC
This crisis-era tax credit could get you some serious cash
With the tax filing deadline approaching, make sure your company is getting all the assistance available from government programs.
For instance, that means checking that you've fully utilized the Employee Retention Credit (ERC), the refundable tax credit designed to make it easier for businesses to keep employees on the payroll.
The credit is getting extended as part of the American Rescue Plan Act, the $1.9 trillion relief package just signed by President Biden. Originally scheduled to end on June 30, ERC will continue through year end, giving business owners access to as much as $33,000 per employee in incentives.
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