What is ERC?
Employee Retention Credit Program (ERC), was part of the March 2021 legislation of the American Rescue Plan Act that revised the original ERC Program included in the CARES Act of May 2020. Back then, an employer had to choose between Paycheck Protection Program (PPP) and ERC. The 2021 legislation expanded the ERC program and also allows eligible employers to benefit from both or either of PPP and ERC. Many people do not realize that they can now use PPP and ERC!
Do You Qualify?
If your company has had to do any one of the following between 2020-2021, you can qualify for up to $26,000 per employee.
•Change in business hours
•Partial or full suspension of your operations
•Shutdowns of your supply chain or vendors
•Reduction in services offered
•Reduction in workforce or employee workloads
•A disruption in your business (division or department closures)
•Inability to visit a client’s job site
•Suppliers were unable to make deliveries of critical goods or materials
•Additional spacing requirements for employees and customers due to social distancing
•Change in job roles/functions
•Tasks or work that couldn’t be done from home or while transitioning to remote work conditions
•Lack of Travel
•Lack of Group Meetings
Want to know if you qualify? Better Call Sal! or text :)