ERC or Employee Retention Credit is a government program under the CARES Act to encourage businesses that have kept their employees on payroll during the pandemic. This program is implemented to help employers and employees maintain stability during the worst times of COVID. Click here to learn more about ERC or Employee Retention Credit.
Businesses, both small and large, have been affected by the COVID outbreak. And the government-imposed restrictions made it worse for businesses. Many businesses had to suspend their employees to meet the regulations implemented by the government. And as a result, many companies had to cut short their workforce. Under the CARES act, the government came forward with programs like ERC to encourage employers to keep their employees on the payroll during these times.
How to Check Your Eligibility for Employee Retention Credit?
Just like any other government program, ERC aims to help employers maintain their workforce and help them improve the overall productivity of the company. Aside from helping employers, ERC also gives employees opportunities to earn cash incentives by keeping their jobs intact during these times.
To check if you’re eligible for ERC, it would be better to consult an ERC specialist. An ERC specialist is a representative of one of the CARES act certifying businesses. They are tasked to help employers keep track and manage their employees during these times. And to check if they’re eligible for ERC, they have to forward an Employee Retention Credit Application Form.
Employers who wish to apply for this ERC should be ready to go through lots of paperwork. They have to submit their application form in person or through the mail. An ERC specialist can assist you in applying for this program. Aside from applying for ERC, it’s also advisable to check your eligibility for other government programs. This would be helpful in ensuring that you can have access to loads of aid during this difficult time.
According to the CARES act, the ERC program aims to assist employers in keeping their employees employed in their company and maintaining the productivity of the company. To be qualified for this program, employers have to meet certain requirements. An ERC specialist will help you check your eligibility for ERC. They will also assist you throughout the process of applying for ERC. If you want to increase your chances of being eligible for ERC, then you better seek the assistance of an ERC specialist.