The new infrastructure bill, approved and signed November 2021, will end the ERC for the fourth quarter of 2021, as part of a cost-saving initiative.
The bill repeals the fourth quarter for those employers whose business was partially or fully suspended during COVD-19 by government orders and also for those employers who experienced a significant decline in revenue.
Despite the repeal, you can still claim your ERC to help get your business back on track.
What small and mid-sized businesses should know about the update:
According to Forbes, nearly 70% of small and medium businesses qualify for the ERC due to loss of revenue or because their business (or suppliers) was impacted by a government mandate.
There’s still time to claim your benefits! Talk to Rebate today about your ERC refund for qualifying quarters in 2020 and 2021. We’re here to make it easy.