Impact of the New Stimulus Package: Extension & Expansion of the Employee Retention Credit (ERC)

  |  February 10, 2021

Designed to encourage employers to keep employees on their payroll and continue providing health benefits during the coronavirus pandemic, the Employee Retention Credit (ERC) is a refundable payroll tax credit for wages paid and health coverage provided by an employer whose operations were suspended due to a COVID-19-related governmental order, or that experienced a significant reduction in gross receipts. REDW highlights retroactive changes to the ERC for 2020, and what to expect for the tax credit in 2021. Read more.
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