Newport Beach: A Guide to ERC Tax Credit Filing From ERC Specialists
Introduction Newport Beach, located in the beautiful state of California, is known for its stunning beaches, upscale neighborhoods, and vibrant community. As a resident or business owner in Newport Beach, you may be eligible for the Employee Retention Credit (ERC) program, which can provide significant tax credits for businesses affected by the COVID-19 pandemic. Understanding the ERC Program The ERC program is a federal tax credit designed to help businesses retain their employees during times of economic hardship, such as the ongoing COVID-19 pandemic. It was introduced as part of the CARES Act in 2020 and has since been expanded and extended to provide further relief to eligible businesses. What is ERC? The Employee Retention Credit (ERC) is a refundable tax credit that allows eligible businesses to claim a percentage…