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Employee Retention Tax Credit

Secure Your Business's Future - Get up to $26,000 per employee in Employee Retention Tax Credit refunds for 2020 & 2021

Claim your refund:

Are you eligible for a refundable tax credit through the ERTC program?

If you're a business owner who has been impacted by the COVID-19 pandemic, you may be eligible for a refundable tax credit through the Employee Retention Tax Credit.

What is the ERTC program?

The ERTC program allows eligible employers to claim a credit of up to $5,000 per employee for wages paid during the pandemic. This credit can be used to offset the employer's payroll taxes and can even result in a refund if the credit exceeds the employer's payroll tax liability.

Eligibility Requirements

To be eligible for the ERTC, a business must have experienced either a full or partial suspension of operations due to a government order related to the COVID-19 pandemic, or a significant decline in gross receipts. In addition, the business must have retained their employees during the period of economic hardship.

Don't miss out on this opportunity!

If you think your business may qualify for the ERTC, we encourage you to apply for the credit as soon as possible. Our team of experts can assist you in determining your eligibility and filing for the credit.

Contact us today to learn more about the Employee Retention Tax Credit and how it can benefit your business.

FAQs

  • The ERTC is a refundable tax credit that is designed to help employers keep their employees on the payroll during the COVID-19 pandemic. The credit is equal to 50% of the qualified wages paid to an employee, up to a maximum of $5,000 per employee for the year. This means that an eligible employer can claim up to $10,000 per employee in ERTC for the year.

  • The Consolidated Appropriations Act, 2021 made several changes to the Employee Retention Tax Credit. The credit rate was increased from 50% to 80% of qualified wages and the maximum credit per employee was increased from $5,000 to $7,000 for 2021. Additionally, the act expanded the credit to include certain employers who have had a significant decline in gross receipts, even if they have not fully suspended operations.

  • To qualify for the ERTC, an employer must meet one of the following two criteria:

    The employer's business is fully or partially suspended due to a government order related to COVID-19.

    The employer's gross receipts for a calendar quarter are less than 20% of the employer's gross receipts for the same calendar quarter in the prior year.

  • Employers can claim the ERTC by filing Form 941, Employer's Quarterly Federal Tax Return, with the IRS. The credit can be claimed for wages paid after March 12, 2020, and before January 1, 2021. The credit can be taken against the employer's portion of the Social Security tax.

  • The ERTC is a refundable credit, meaning that if the credit amount exceeds the employer's tax liability, the employer will receive the difference as a refund. Employers can claim the credit on their quarterly Form 941, Employer's Quarterly Federal Tax Return, and any excess credit will be refunded to the employer.

  • An eligible employer can claim up to $7,000 per employee in ERTC for the year 2021.

  • Employers can file amended returns to claim the ERTC for the previous quarters of 2020 and 2021 if they have not claimed it before.

  • No, employers who received a PPP loan are not eligible to claim the ERTC.

  • The Employee Retention Credit expired on December 31, 2021.

  • Wages paid to an employee that are eligible for the ERTC include salary, wages, tips, and other forms of compensation, but does not include paid leave, such as vacation, sick leave, or family and medical leave.

  • For 2020, the credit rate was 50% of qualified wages, with a maximum credit per employee of $5,000.

  • For 2021, the credit rate was increased to 80% of qualified wages, with a maximum credit per employee of $7,000.