The Employment Retention Credit (ERC) is the last federal pandemic relief program via the C.A.R.E.S. Act. The ERC program refunds business owners up to $26k per employee for payroll costs during the pandemic. The wages of owners and family members of the owners do not count. The refund does not need to be paid back and you can use it how you see fit. The average refund time is 4 to 6 months.
Sarah runs a successful bakery but her business was negatively impacted by the pandemic. She only received one of the two PPPs. She is feeling hopeful once again with $100,000 in ERC filed.