This is an excerpt of an article on msn.com
Ultimately, COVID made a lot of things very challenging, especially for small business owners. The government did a lot of bad and a lot of good in attempting to alleviate the issues everyone experienced. This simple credit is an example of good. Yet the onus is on businesses today to learn about and utilize it before it’s too late. It was hard to pay employees properly during the pandemic, why not be rewarded for that?
There were countless bits of legislation proposed and passed in this effort. Legislation that many of which are still relevant today. The Employee Retention Credit program is exactly one of those pieces of legislation. The credit this program created was a refundable federal tax credit. It wasn’t offered to every business, but instead was an incentive for businesses to keep employees onboard and paid.