KB CPA Services P.A.

Month: September 2021

Employer Retention Credit (ERC), most recent update

Employer Retention Credit (ERC): The employee retention credit (“ERC”) was introduced and enacted as part of the CARES Act to provide a refundable payroll credit for eligible employers, including nonprofit organizations, whose businesses have been negatively impacted by the pandemic. An employer qualifies for the ERC if it (1) fully or partially suspends its operations …

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