Simplifying the Employee Retention Tax Credit
The Employee Retention Credit was introduced in the CARES Act that Congress enacted to help stabilize businesses in the wake of Covid-19. It is a refundable tax credit available to small and medium-sized businesses. As such, it is a grant and not a loan – you never need to worry about repaying the ERC. And, if your business received PPP you are still eligible to receive an ERC refund.
The funds were initially designed to help businesses retrain their employees in the aftermath of Covid-19 to ensure business continuity in a new world where social distancing and a lack of in-person services and interaction were the new normal. Note that the ERC is based on qualified wages and healthcare paid to employees.
Is My Business Eligible For The ERC Program?
Many small and medium-sized businesses qualify for the ERC program. To qualify, you must have experienced a negative impact to business during COVID, including, but not limited to:
- Change in business hours
- Suspension of your operations
- Shutdowns in your supply chain
- Reduction of services offered
- Other material changes to your business
- You were required by the government to shut down your business partially or completely during 2020 or 2021.
- You experienced negative, Covid-related events during at least one quarter of 2020 or 2021.
- Your gross receipts were reduced for 2020 and/or 2021 compared to pre-Covid numbers.
Find Funding For Your Business
Small and medium-sized businesses across the United States are struggling or have already failed due to economic pressures created by the Covid-19 pandemic. That doesn’t have to be your situation – there is a solution – the ERC program offers access to funds through refundable tax credits that can stabilize your business. We help you tap into that revenue.
Key Takeways of the
Employee Retention Tax Credit
Funds are available for a limited time.
- Your business can receive a tax refund of up to $26,000 per employee.
- The ERC is available for all of 2020 and the first 3 quarters of 2021.
- Funds are available for a limited time.
- Businesses that qualify struggled with Covid events or had a decrease in revenue.
- There is no limit on funding available through the program.
- You never need to repay ERC tax credits.
Why Choose Us for ERTC Claims and Advance Payment
- We offer unparalleled expertise in determining your eligibility for ERC.
- Our team has specific program experience unavailable through CPAs and other tax professionals.
- We provide a comprehensive analysis and feedback on your claim.
- We offer a seamless, painless process from beginning to end.
- We deliver expert guidance throughout the claim process, including on documentation.
Time is of the essence. Get the assurance you need in just one call.
Are you ready to learn how much your business could be saving? Interested in exploring how ERC funds can help your organization grow? Let’s get started. Complete the form so we can reach out to discuss all your questions including,
We received PPP loans, can we still apply for ERC?
What are the differences in the ERC for 2020 and 2021? What do those differences mean?
How do I interpret multiple states’ executive orders How does the situation work for medium-sized businesses with locations in multiple states?
How does the situation vary for employees who are part of a union? What about tipped employees? Are part-time employees covered under the ERC?
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Whether Priority Concepts processes your claim or you have a claim prepared, you can count on us to get your money back.