What is the Employee Retention Credit Program?
As a small to medium-sized business, it's likely that you were negatively impacted by COVID-19.
To help keep the economy moving forward Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act to help get businesses back on their feet — with a special section called the Employee Retention Credit (ERC), specifically added to help businesses like yours.
While many businesses were aware of the PPP, many still don't know about ERC credits. This program has been severely underutilized, leaving thousands of dollars unclaimed.
Details of the ERC program include:
Up to $26,000 per employee
No limit on funding
It is a refundable tax credit
Can be claimed for 2020 and 2021
Designed to reward business owners who kept employees on payroll.
Same relief bill that created PPP loans also created the ERC.
Unlike PPP program, the ERC refund is not a loan. It's money that is for your business and it's up to you on how you use it.
It's pretty complex-
that's where we come in
The ERC is governed by over 200 pages of IRS tax code, making it complicated for business owners and even CPAs to figure it out. That's where we step in.
Not sure where to start? We're here to help.
Our ERC experts are ready to answer your questions. Qualify today.