Simple Steps to Claim the CARES ACT Employee Retention Tax Credit

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Simple Steps to Claim the CARES ACT Employee Retention Tax Credit

12/14/2022 | 12:00 PM

Learn how your business can claim the Employee Retention Tax Credit. Learn about the payroll tax credit and understand how your business can claim the Employee Retention Tax Credit (ERTC) for wages your business paid to employees before the deadline in March 2023. 

The Coronavirus Aid, Relief, and Economic Security Act (also known as the CARES Act) was signed into law on March 27, 2020. It included two programs to assist businesses with keeping workers employed: the Payroll Protection Program (PPP), administered by the Small Business Administration and ERTC, administered by the Internal Revenue Service. ERTC payroll tax credits are credits (or refunds) for a percentage of payroll in each quarter that you qualify. You may qualify if you were in business during 2020 and 2021 and retained employees.