The Employee Retention Credit (ERC) was enacted by the CARES Act in March 2020 as an incentive to employers to keep their labor force intact during the COVID-19 pandemic.
However, the new American Rescue Plan Act (ARPA) expanded eligibility and extended the credit, now worth as much as $26,000 per employee.
What was previously an attractive incentive has become a “can’t miss” opportunity for additional cash flow to eligible businesses. Millions more US-based businesses stand to benefit from these changes to the ERC, but that doesn’t make them any less complex.
At ERC Benefits, we are here to help. Our dedicated ERC advisors are well-versed in the nuances of the new rules and can help you maximize your ERC.