Learn More About ERC

The Employee Retention Credit (ERC) is a refundable payroll tax credit providing incentive for employers to keep their workforce employed during the impact of the COVID-19 pandemic. This temporary credit was originally enacted by the Coronavirus Aid, Relief, and Economic Security (CARES) Act.  In 2021 the credit was extended by the Consolidated Appropriations Act (CAA), and later with the enactment of the American Rescue Plan Act (ARPA). The total potential refundable employee retention credit for combined years 2020 and 2021 is $26,000. This includes $5,000 for 2020 and $21,00 for 2021. As the credit period has passed the reward is available to be claimed by qualified business. This tax incentive is available for a limited time. Claim your incentive as soon as possible.

The Employee Retention Credit is based on qualified wages, compensation, and other qualified expenses paid by employers from March 13, 2020 to December 31, 2021. This credit is fully refundable against the employer Social Security Tax. Our team is has performed extensive analysis ERC eligibility and guidance issued by the IRS. In addition, our services are designed to calculate credit amounts, provide relevant documentation on your specific tax file, and maximize this credit for the employers’ circumstances. We are also here to guide employers through the process and how ERC relates to the Paycheck Protection Program (PPP) loan forgiveness program. Those who have ruled out ERC due to receiving a PPP loan, can still qualify for ERC benefits. 

All businesses may qualify for the ERC credit. Employers can claim their ERC credit after experiencing any of the below events. 1) Significant decline in Gross Receipts, 2) Partial or full government order shut down. If you fall into either category, your business can receive the ERC on a portion of Qualified wages. We are here to help.