Employee Retention Tax Credit

The Employee Retention Tax Credit (ERTC) is a refundable tax credit offered by the U.S. government to encourage businesses to retain employees during economic hardships, such as pandemics.

1. What is the Employee Retention Tax Credit (ERTC)?
   Answer: It is a refundable tax credit to retain employees during economic hardships.
   
2. Who is eligible for ERTC?
   Answer: Eligible businesses are those impacted by government orders or revenue loss.
   
3. How is the credit calculated?
   Answer: It is based on qualified wages paid, up to a certain limit per employee.
   
4. What is the purpose of ERTC?
   Answer: It supports businesses and preserves jobs during crises.
   
5. Where can employers claim ERTC?
   Answer: It is claimed through IRS Form 941.