The Employee Retention Credit (ERC) is a payroll tax refund of up to $26,000 per employee. It was designed by the United States Treasury Department to help businesses that kept employees on payroll during the pandemic.
There are two ways for an employer to qualify:
(1) Experienced a significant decline in gross receipts during the 2021 calendar quarter, more than a 20% decline versus the same quarter of 2019, and a 50% decline in the 2020 calendar.
(2) Your business was at least partially suspended due to Covid-related government orders.