In January 2020, the United States experienced an unemployment level of 3.6%. At that time, it was one of the lowest levels that the country had seen in the last five decades. In February 2021, however, studies reveal that 8.5 million fewer people were employed than in February 2020. Everyone knows the reason for this sudden fall. The Covid-19 pandemic and the reactions of the federal, state, and local governments have caused numerous companies to either close or downsize. To cope with and minimize the damage, the United States’ federal government passed the Coronavirus Aid, Relief, And Economic Security (CARES) Act, including numerous benefits of the Employee Retention Tax Credit (ERTC). Before jumping directly to find its multiple benefits, let us know more about ERTC in detail. 

Read More: How to apply for Employee Retention Credit

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