Wednesday, July 5, 2023

ERC is a refundable tax credit (it is not a loan like PPP or EIDL)

 



The Employee Retention Tax Credit (ERC) includes funds to help business owners who kept W-2 employees on their payroll during 2020 (Q2–Q4) and 2021 (Q1–Q3).

Up to $26,000 per W-2 employee

ERC is a refundable tax credit (it is not a loan like PPP or EIDL)

No restrictions on use
No limit on funding
Qualify with decreased revenue or COVID-related event
IRS distributes your funds within 4–8 months

 https://lnkd.in/gUz292Qe