What is the Employee Retention Tax Credit Reinstatement Act?
What is the Employee Retention Tax Credit Reinstatement Act? This bill was introduced in the Senate on 02/10/2022. It allowed for the reinstatement of the Employee Retention Tax Credit throughout 2021.
As we all know, many small businesses were hit hard during the 2020 pandemic. The Employee Retention Credit (ERC) was introduced to help employers that kept their W-2 employees on payroll during this year. Because many American small businesses continued to be affected by the pandemic throughout 2021, the Employees Retention Credit Reinstatement Act was introduced.
If your business was negatively impacted by the COVID-19 pandemic jn 2020 and/or 2021 your business may be eligible for compensation of up to $26,000 per W-2 employee for wages paid.
If you would like to find out if your business qualifies for these refundable credits, we can help! We have partnered with a team of expert CPAs that will review your file for free. You will never be charged a retainer fee and you will only pay if and after you receive your credit.
Click the "Get Qualified" button to learn more or to start the qualification process.