A Lifeline For Small To Medium-Sized Businesses
ERC Is A Tax Incentive Program Introduced In Response To The COVID-19 Pandemic To Encourage Businesses To Retain Their Employees.
Eligible employers can receive a tax credit of up to 70% of qualified wages paid to employees, making it a valuable financial resource for businesses facing economic challenges.
The ERC was extended and expanded several times to provide ongoing support to businesses, with changes in rules and calculations that increased its potential benefits.
Businesses should carefully review ERC guidelines and consult with tax professionals to ensure compliance and maximize the credit's impact on their financial stability.