Employee Retention Credit

2024 Employee Retention Credit (ERC) Process

Over the past couple of years, the government has made large strides in using the Employee Retention Credit (ERC) Act to help businesses with their financial struggles.

Using the ERCH, businesses can earn thousands of dollars in tax credits just for retaining employees through the pandemic (up to $26,000 per employee). In 2021, PayNW helped clients gain over 115 million dollars in ERC tax credits.

UPDATE 01.31.24: The new Tax Relief for American Families and Workers Act of 2024 includes a provision to end the ERC on January 31, 2024. While the act passed the House of Representatives, the bill now moves to the Senate for consideration. As such, PayNW is no longer accepting applications for ERC.

Please reach out to your representative at support@paynw.com with questions.