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The ERC is a refundable tax credit, not a loan. Qualifying businesses can apply for the tax credit to receive a refund on their payroll taxes. The money does not need to be repaid.

Tax Credit

70% of the first $10000 in wages per employee in each quarter of 2021.

Speed of Funds

3-6 Months


Were shut down during 2020 or 2021


Up to $7,000 per employee per quarter, up to $28,000 per year

The Employee Retention Credit (ERC) – sometimes called the Employee Retention Tax Credit or ERTC – is a refundable tax credit for certain eligible businesses and tax-exempt organizations that had employees and were affected during the COVID-19 pandemic.

The requirements are different depending on the time period for which you claim the credit. The ERC is not available to individuals.

Eligibility Highlights

The credit is available to eligible employers that paid qualified wages to some or all employees after March 12, 2020, and before January 1, 2022. Eligibility and credit amount vary depending on when the business impacts occurred. The ERC is not available to individuals.

Generally, businesses and tax-exempt organizations that qualify are those that:

  • Were shut down by a government order due to the COVID-19 pandemic during 2020 or the first three calendar quarters of 2021, or

  • Experienced the required decline in gross receipts during the eligibility periods during 2020 or the first three calendar quarters of 2021, or

  • Qualified as a recovery startup business for the third or fourth quarters of 2021

Eligible employers must have paid qualified wages to claim the credit.

Eligible employers can claim the ERC on an original or adjusted employment tax return for a period within those dates.

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