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EMPLOYEE
RETENTION
CREDIT
Learn more about the ERC program
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Our Process;
How it Works
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About the ERC program
What is the Employee Retention Credit (ERC)?
ERC is a stimulus program designed to help those businesses that were able to retain their employees during the Covid-19 pandemic.
Established by the CARES Act, it is a refundable tax credit – a grant, not a loan – that you can claim for your business. The ERC is available to both small and mid-sized businesses. It is based on qualified wages and healthcare paid to employees.
Up to $26,000 per employee
Available for 2020 and the first 3 quarters of 2021
Qualify with decreased revenue or COVID event
No limit on funding
ERC is a refundable tax credit
How much money can you get back?
You can claim up to $5,000 per employee for 2020. For 2021, the credit can be up to $7,000 per employee per quarter.
How do you know if your business is eligible?
To qualify, your business must have been negatively impacted in either of the following ways:
A government authority required partial or full shutdown of your business during 2020 or 2021. This includes your operations being limited by commerce, inability to travel or restrictions of group meetings.
Gross receipt reduction criteria is different for 2020 and 2021, but is measured against the current quarter as compared to 2019 pre-COVID amounts.
A business can be eligible for one quarter and not another.
Initially, under the CARES Act of 2020, businesses were not able to qualify for the ERC if they had already received a Paycheck Protection Program (PPP) loan. With new legislation in 2021, employers are now eligible for both programs. The ERC, though, cannot apply to the same wages as the ones for PPP.
erc info
FAQ
1
Collect Data
Use our secure portal to upload your 941 returns, PPP loan documents, and raw payroll data.
2
Credit Calculation
We will use our expertise to calculate the exact value of the credit you can receive from the IRS.
3
Amending Returns
We will prepare and help file the 941-X Amended payroll returns.
4
Get Your Money !
The IRS will process the credit and mail you a check
How and when will
I be receiving my money?
You'll get your money in 8-9 weeks, and it'll come in the form of an IRS cheque in the mail.
How much money can I receive?
You can get up to $26,000 for each employee that you retained during COVID-19
If i received the PPP loan can i still qualify for the ERC?
Yes, however it might have the potential to limit the amount.
Can I get the credit for family members that are on payroll?
Wages paid to individuals who are more than 50% owners' relatives are not eligible for erc.
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