Information provided by US Chamber of Commerce

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, the government’s $2 trillion stimulus bill, includes a new tax credit for businesses impacted by the COVID-19 crisis.

With many American businesses around the country struggling due to the effects of coronavirus, the government responded by passing the Coronavirus Aid, Relief, and Economic Security (CARES) Act. While much of the CARES Act was focused on providing forgivable small business loans via the Paycheck Protection Program, another part of the Act included a new Employee Retention Tax Credit (ERTC) that could help some businesses as well.

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