TIME REMAINING TO APPLY FOR ERC
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HELPING AMERICAN COMPANIES REINVEST IN THEIR OWN BUSINESSES USING ERC (EMPLOYEE RETENTION CREDIT) TAX REFUNDS
Supercharge Your BUSINESS: Tap into the Power of ERC Tax Refunds!
WE HAVE PARTNERED WITH THE NO. #1 EXPERT ADVISORS WHO HELPED OVER 23,000 SMALL BUSINESSES IMPACTED BY COVID-19 RECEIVING THEIR ERC TAX REFUNDS
What is ERC?
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 – 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.
How do you know if your business is eligible?
To qualify, your business must have been negatively impacted in either of the following ways:
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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.
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Gross receipt reduction criteria is different for 2020 and 2021, but is measured against the current quarter as compared to 2019 pre-COVID amounts.
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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.
Why Us?
The ERC underwent several changes and has many technical details, including how to determine qualified wages, which employees are eligible, and more. Your business’ specific case might require more intensive review and analysis. The program is complex and might leave you with many unanswered questions.We can help make sense of it all. Our dedicated experts will guide you and outline the steps you need to take so you can maximize the claim for your business.
Frequently Asked Questions
No. Only W-2 employee wages can be claimed, and you cannot claim your own wages as a majority owner even if you are on a W-2 wage.
No. Only W-2 employee wages can be claimed for the credit.
Yes! You can apply for ERC, but you may not claim ERC on wages paid to family members of majority owners. This includes immediate family plus in-laws, aunts, uncles, and cousins.
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.
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GovernmentAid, a division of Bottom Line Concepts, assists clients with various forms of financial relief, particularly, the Employee Retention Credit Program.
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