Employee Retention Credit
In an effort to assist business struggling with the effects of the Covid epidemic, Congress provided
the Employee Retention Credit. The ERC was originally provided as part of the 2020 Cares Act and
was later modified and included in the 2021 Relief Act. Qualifying employers may currently file for
ERC refunds for wages paid to employees between March 12, 2020 and September 15. 2021.
Total Eligible Credits and Refund Available to Employers –
- Quarters 2, 3 and 4 of 2020 - $5,000 per employee for each quarter
- Quarters 1, 2 and 3 of 2021 - $7,000 per employee for each quarter
How to qualify for the credit –
- Experience a significant Decline in Gross Receipts
1. 2020 quarters having a 50% decline over the same quarter in 2019
2. 2021 quarters having a 20% decline over the same quarter in 2019 - Experience a full or partial suspension of the operation of their trade or business during any
calendar quarter because of governmental orders limiting commerce, travel or group
meetings due to COVID-19, or - Experience a supply chain disruption caused by a government order affecting a domestic
supplier that caused the supplier to suspend or delay shipments.
How to qualify for the credit –
- We schedule an introductory to discuss your company’s’ qualification.
- We prepare all the required documentation, calculations and IRS filings.
- We facilitate the processing of your filings until you receive the refunds.
How much does It cost to apply –
- The total cost depends on the numbers of quarters and employees included in the filing
and is paid only when you receive your ERC refunds.