How to Be Prepared for an ERC Audit
CPA Practice
MAY 26, 2023
The Coronavirus Aid, Relief, and Economic Security (CARES) Act initially authorized a credit of 50% of qualified wages paid after March 12, 2020 and before January 1, 2021. To qualify, the business must have commenced after February 15, 2020 and have an average gross receipts of less than $1 million. How does the ERC work?
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