The Employee Retention Credit (ERC) is a fully refundable payroll tax credit given to employers. This program was established under The Coronavirus Aid Relief and Economic Stimulus Security Act otherwise known as the Cares Act in response to the COVID-19 pandemic. Your organization can obtain up to $5,000 per employee in 2020 and up to $21,000 per employee in 2021. Even if you obtained a Paycheck Protection Program (PPP) loan your organization may still qualify.
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