The (ERC) Employee Retention Credit program was actually offered by President Trump back in 2020 Small businesses were only allowed to choose one or the other at that time. The other program was the well-known (PPP) Payment Protection Program Loan. It is no longer available. In comes President Joe Biden with updated tax law. Now, these businesses can apply for Both federal programs. What is ERC? ERC is a federal tax stimulus program designed to help those businesses that were able to retain their employees during the Covid-19 pandemic. Established by the CARES Act, it is a refundable tax credit – a grant, not a loan – that you can… Read More
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