“In March 2020, Congress created the Employee Retention Tax Credit (ERC) as a way to provide small businesses with financial relief during the pandemic. Since that time, the ERC has been expanded twice so more struggling companies can use it to cut down their federal tax bill. Eligible employers can claim the ERC retroactively by filing Form 941-X for each quarter they paid qualifying wages. They can file this form up to three years after the original payroll taxes were due. This means that employers can claim the 2020 ERC until April 15, 2024, and the 2021 ERC until April 15, 2025. Here’s what you need to know about the ERC and how to take advantage of it.