ERTC FAQ's. Most comprehensive and up to date questions answered about Employee Retention Tax Credit. These Faqs cover everything about ERTC.

Mainstreet Insurance & Financial Services is your one-stop destination for wholesome insurance that cover all aspects of your life. We offer customized services that befit our client's needs and situations. Employer incentives are one of the services we provide on employee retention tax credits. The most current version of the tax credit was signed into law as a result of the COVID-19 crisis with the CARES Act in 2020. It was then updated by the CAA and then again by ARPA. The purpose of the tax credit is to keep workers on the payroll during the pandemic. The Employee Retention Tax Credit is an offset to payroll taxes, not an income tax credit. The original credit began on March 12, 2020, and its original expiration date was the end of 2020. The Consolidated Appropriations Act of 2021 extended ERC through the first half of 2021, and then the American Rescue Plan (ARPA) extended it through the end of 2021.