The COVID-19 pandemic has had a devastating effect on businesses across the country, with many having to close their doors for good. While this can be a heartbreaking situation for business owners, there is some hope in the form of the Employee Retention Credit (ERC).
The ERC was created as part of the Coronavirus Aid, Relief and Economic Security (CARES) Act and provides tax credits to employers who retained their employees and maintained payroll during those difficult times.