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Now you see it. Now you don’t.
I’m talking about the employee retention credit (ERC).
Here’s the sad story of the ERC’s repeal…
As you may remember, back in April 2020, the ERC was adopted as part of the Coronavirus Aid, Relief, and Economic Security Act.
This important legislation was extremely helpful. It was designed to encourage small businesses to keep their employees on the payroll rather than let them go.
Then, thanks to some really boneheaded thinking,…
Congress retroactively eliminated the employee retention credit (ERC) for the fourth quarter of 2021.
But don’t let this stop you in your tracks. Here are three reasons why not to give up:
- You can still claim your credits from the other three quarters of 2021… and one quarter of 2020!
- There’s no need to rush. You can claim the ERC anytime during the three-year statute of limitations!
- The remaining ERC credits can add up to $26,000 per employee!
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“Say Goodbye to the ERC
for the Fourth Quarter”