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Revitalizes Restaurants

ERC: A Tax Credit that Revitalizes Restaurants

The pandemic has drastically affected the restaurant industry in the U.S.. With the government imposing several restrictions, many in the food industry incurred heavy losses and shut down their operations altogether.

The Employee Retention Credit: A Boon to the Restaurant Industry

Recovering from the devastating impact of COVID will prove to be a long journey for the restaurant industry. Recent data shows that sales are $240 billion below normal, 8 million employees have been laid off or furloughed, and over 110,000 eateries closed for good in 2020, and it’s evident the way back to pre-crisis level of sales and employment will not be straightforward.