- Organizations can get up to $33,000 per employee over the span of 2020 and 2021
- A few small organizations with fewer than 10 employees have already received over $100,000.
- Larger companies have received over $1,000,000.
There is a very large tax credit available to a great number of for-profit and non-profit businesses.
The Employee Retention Tax Credit (ERTC) was created within the Coronovirus Aid, Relief, and Economic Security Act (CARES Act) to incentivize eligible businesses to keep employees on the payroll through a refundable payroll tax credit equal to a percentage of eligible wages.
Here are a few quick details of the ERTC: