Employee Retention Credit
Has your business been negatively affected by Covid-19?
The ERC is a refundable payroll tax credit providing a maximum of $26,000 per W-2 employee to business negatively affected by covid.
Only ONE of the following is required to qualify for ERC.
Business Suspension
Partial or Full shutdown of business operations due to COVID-19 government restrictions.
2020 Revenue
Revenue declined of 50% in any quarter of 2020 when compared to the same quarter in 2019.
2021 Revenue
Revenue declined of 20% in Q1-Q3 of 2021 when compared to the same quarter in 2019.
Common Question About ERC
How long do we have to claim the ERC?
Businesses can claim the ERC up to three years from the quarter of qualifying wages. You still have time!
Do we still qualify after taking PPP?
After December of 2020, businesses are also eligible for the ERC even after claiming the PPP.
ERC Qualification Period.
The time frame to qualify for the ERC was 3/13/20-9/30/21.
You have up to three years from the quarter of qualifying wages to place a claim.
What if we had a revenue increase?
If a business has a qualifying suspension, revenue levels may not be a factor
