Congress passed the Employee Retention Credit (ERC) in March 2020 under the CARES Act to help businesses financially impacted by COVID-19. This tax credit brought a lot of promise for companies and business owners who have been struggling to stay afloat during the pandemic.
Unfortunately, many people are confused about whether or not they qualify for the credit and how to apply. In this article, we’ll break down the Employee Retention Credit, when it’s available, who qualifies, and more.