Employee Retention Credit or ERC is a refundable tax credit under C.A.R.E.S. (Coronavirus Aid, Relief & Economic Security) act that is created for businesses that continued paying their employees despite being fully or partially shut down under government mandate during the pandemic or experienced significant declines in gross receipts from March 13, 2020, to December 31, 2021. If you meet the qualifications you could receive up to $5,000 per employee for 2020 and up to $7,000 per quarter and up to $28,000 for the year for each employee. The deadline for filing is on March 12, 2023.
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To find out more about the qualifications, visit this link: