The ERC (Employee Retention Credit) program, which started on March 13th, 2020, is open to eligible employers and will continue until September 30th, 2021. Applications for refunds for 2020 and 2021 can be submitted after December 31st of this year, and may be accepted until 2022 or 2023, or possibly even later.
Don’t wait to apply for the ERC tax credit in 2023 – act fast to beat the deadline!
References
- Internal Revenue Service (IRS)
https://www.irs.gov/coronavirus/employee-retention-credit - The CARES Act
https://www.congress.gov/116/bills/hr748/BILLS-116hr748enr.pdf - American Institute of CPAs
https://www.aicpa.org/content/dam/research/research/taxpolicyandeconomics/downloadabledocuments/2021/2021-03-03-employee-retention-credit.pdf - What Is The Employee Retention Credit (ERC), And How Does The Program Work?
Forbes
https://www.forbes.com/sites/forbesfinancecouncil/2022/06/21/what-is-the-employee-retention-credit-erc-and-how-does-the-program-work/ - FAQs: Employee Retention Credit under the CARES Act
Internal Revenue Service (IRS)
https://www.irs.gov/newsroom/faqs-employee-retention-credit-under-the-cares-act