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What is ERC?

Mar 16th, 2023 at 02:41   Services   New York City   6 views Reference: 3401

Location: New York City

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ERC (Employee Retention Credit) is a stimulus government aid program established by the CARES Act. It is a refundable tax credit – a grant, not a loan – that businesses can claim, and can recoup up to $26,000 per employee.  Who is the ERC Program For?   This program was created for companies who showed a decline in revenue, changes or adjustments in standard business operations, or partial / full business suspension during the Covid-19 pandemic and paid employees on W2 payroll during the years of 2020 and 2021.