ERC Tax Credit Filing From ERC Specialists in Las Flores, California, USA
What is ERC? ERC stands for Employee Retention Credit, which is a tax credit program designed to assist businesses during challenging times, such as the COVID-19 pandemic. The ERC program was introduced as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act in March 2020. It aims to provide financial relief to eligible employers who retain their employees despite experiencing significant revenue loss. ERC Program Overview The ERC program offers a tax credit to eligible employers for a percentage of qualified wages paid to employees. This credit can help businesses offset their employment tax liabilities and provide much-needed financial support during difficult economic conditions. ERC Loan and Qualifications It's important to note that the ERC is not a loan program but a tax credit. Qualifying employers can claim…