The refundable tax credit is 50% of. Business owners who weren't recovering startups weren't eligible for the employee retention credit for wages paid after September 31.The ERC was a tax credit in which business owners received a refundable tax credit for keeping employees on the payroll during the COVID-19 pandemic. The employee retention credit applies to workers employed full or part time if their employers met the requirements. The Employee Retention Credit (ERC) was authorized under the CARES Act and encourages companies to keep employees on the payroll.
The federal government established the Employee Retention Credit (ERC) to provide a refundable employment tax credit to help businesses cover the cost of keeping staff employed. The employee retention credit was a refundable tax credit intended to allow small business owners to continue paying their employees during the COVID-19 pandemic. The employee retention credit under the CARES Act encourages companies to keep employees on their payroll. The employee retention credit was a refundable tax credit that small businesses could apply for during the COVID-19 pandemic.
