Employee Retention Credit (ERC)

Are you leaving money on the table?

CARES Act Employee Retention Credit Updates for COVID-19 Relief

On March 11, 2021, President Biden signed the American Rescue Plan Act (ARPA) that provided further updates to the Consolidated Appropriations Act (CAA) signed on December 27, 2020. Both President Trump and President Biden signed COVID-19 relief packages into laws that includes additional relief for businesses. Specifically, the new legislation amended, expanded, and enhanced the CARES Act Employee Retention Credit (ERC).

The ERC was previously unavailable as an option for relief to businesses that received Paycheck Protection Program (PPP) loans through the SBA. However, this legislation explicitly provided a retroactive amendment to March 13, 2020 and clarified these businesses are eligible to receive the ERC - just not on wages paid with PPP loan funds. Most companies still don't believe they qualify due to a PPP loan, which is untrue - learn about other ERC misconceptions here.  

Other important changes to the ERC include:

  1. A prospective credit increase from 50% of up to $10,000 of qualified wages annually to 70% $10,000 of qualified wages per quarter starting January 1, 2021;
  2. Public universities and hospitals are now considered eligible employers; and
  3. The ARPA extends the coverage of the ERC until the end of 2021.

We have been assisting companies to determine eligibility, calculations of potential credits, and working to help attain tax credits from the ERC. We have an experienced team and partner which has developed a proprietary methodology, proven to be efficient in maximizing your credits. 

Schedule time on our calendar for a free consultation with our team.

We are prepared to guide you through this process. Reach out to get started.

Operational Impact

Identifying The Operational Impact

Full Or Partially Suspended Operation

Finding Full Or Partially Suspended Operation

Payroll Tax Credit

Calculating Payroll Tax Credit Allowance

Refundable

Attaining Refundable Tax Credits for Your Company

Are You Dropping the ERC Ball?

Think you don't qualify for these Tax Credits? Think again. 

This infographic dives into some of the common misconceptions about eligibility for the Employee Retention Tax Credit including:

  • Essential Businesses
  • Profitability Limitations
  • Non-Profits
  • Businesses That Did Not Shut Down
  • and Much More
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Access ERC Infographic