The Employee Retention Credit (ERC) is a tax credit provided to employers under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The ERC is designed to reward employers who kept employees on their payroll during the COVID-19 pandemic. The credit covers a portion of the wages paid to employees and is calculated based on the number of employees, the amount of wages paid, and the impact of the pandemic on the employer’s business operations. You can learn more about this powerful tax credit on the IRS Website.