ERC Tax Credit Explained
The ERC (Employee Retention Credit) is a refundable tax credit designed for businesses who continued paying employees while shutdown due to the COVID-19 pandemic or had significant declines in gross receipts from March 13, 2020, to December 31, 2021. Eligible taxpayers can claim the ERC on an original or amended employment tax return for a period within those dates.
To be eligible for the ERC, employers must have:
- You are eligible if you had W2 Employees in 2020 or 2021 and ANY of the following:
- If you had a reduction in revenue
- If your business was impacted by a Government Mandate
- If you started your business after February 15, 2020
We have contracted with an ERC expert team of licensed CPA’s and Tax Attorneys to determine eligibility and to maximize the exact credit due to the employer.
Business Owners can receive a refundable credit up to $5,000 per employee in 2020, and $7,000 per employee, per quarter (excluding the 4th quarter), in 2021 for qualified wages. This can total up to $26,000 per employee.
This is complicated tax paperwork that takes experts with experience on this specific topic and an enormous amount of time that our team is willing to put in for you (The Business Owner) without upfront cost.
There is a time limit! The IRS makes the rules!
NO UPFRONT FEES PAY ONLY AFTER A CREDIT IS VERIFIED AND YOU HAVE RECEIVED A CHECK
This is a payroll tax credit NOT income tax you will receive an actual CHECK NOT a credit against income.