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 that you can claim for your business. The ERC is available to both small and mid-sized businesses, and is based on qualified wages and healthcare paid to employees.
The ERC underwent several changes and has many technical details, from determining qualified wages to which employees are actually eligible, and much more.
Your specific case may require a more intensive review and analysis, and our team of experts is here to help you walk through each step of this program and maximize your returns.
We've carefully selected our partners to ensure you receive the best service and expertise to maximize what your business can receive, and their results speak for themselves.
We specialize in maximizing ERC for businesses in any industry.
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.
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.
A business can be eligible for one quarter and not another.
Thorough evaluation regarding your eligibility and a comprehensive analysis of your claim.
Full guidance on the claiming process and documentation.
Specific program expertise that a traditional CPA or payroll processor may not be well-versed in.
Fast and smooth end-to-end process, from eligibility to claiming and receiving refunds.
Receive up to $26,000 per employee.
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You can apply for refunds for 2020 and 2021 until the end of this year going into 2023 (and potentially beyond).
Some clients have received refunds only, others in addition to refunds have also qualified to continue receiving ERC in every payroll they process through September 30, 2021, at about 30% of their payroll cost.
Client refunds range from $100,000 to $6,000,000.
Yes. Under the Consolidated Appropriations Act, businesses can now qualify for the ERC even if they already received a PPP loan.
**The ERC will only apply to wages not used for the PPP
Your business qualifies for the ERC, if it falls under one of the following:
• 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.
Yes, to qualify your business must meet either one of the following criteria:
• Experienced a decline in gross receipts by 20%
• Had to change business operations due to government orders.
Many items are considered as changes in business operations, including shifts in job roles and the purchase of extra protective equipment.