What is the Employee Retention Credit (ERC)?
The COVID-19 pandemic hit the global economy hard and left a lot of businesses struggling. In response to this Congress passed a relief legislation including the Employee Retention Credit. This program provides a refundable tax credit to employers who retained their W2 employees through the pandemic.
Many have heard about the EIDL or the PPP program but not many have heard of the ERC. This left the ERC overlooked and not many CPA's understood how it worked. Here at ERC USA we have a team of licensed accounting professionals who specialize in helping business owners receive the maximum allowed credit.
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UP TO $26,000 PER W2 EMPLOYEE
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NO LIMIT TO FUNDING
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QUALIFY WITH DECREASED REVENUE OR COVID EVENT.
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THE ERC IS A GRANT NOT A LOAN
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AVAILABLE FOR Q1 - Q4 OF 2020
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AVAILABLE FOR Q1 - Q3 OF 2021
Employee Retention Credit Qualifications
There are multiple ways for you business to qualify for the ERC program provided by the IRS. Although these qualifications seems simple to understand they do have some underlying complexities that takes a professional to ensure you receive the maximum credit.
If your business began operations before February 15, 2020 you must have had at least ONE of the following circumstances to qualify for the Employee Retention Credit.
Full or Partial Suspension of Business Operations
A government authority requiring a full or partial shutdown of your business during 2020 or 2021. This includes operations being limited by commerce, inability to travel, or restrictions of group meetings.
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Reduction of Gross Receipts
For organizations that experienced a decline of 50% in Gross Receipts in 2020 or a reduction of 20% in 2021 of any quarter against the same quarter in 2019. Ex Q1 of 2020 being down 50% compare to Q1 of 2019.
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If your business began operations after February 15, 2020 you can qualify by the following.
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Average gross receipts < $1 Million
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Benefit limited to $50,000 in each quarter but only for Q3 & Q4 of 2021
ERC Professionals
Our team is dedicated to the ERC and have helped clients receive on average 15% more in funding compared to a normal CPA.
No Risks
It is absolutely free to receive an initial ERC estimate. What do you have to lose?
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Fast and Simple!
Our goal is to make the process the quickest and least hands on for our business owners.
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Maximum Funding
Our teams experience allows us to guarantee the maximum returns for your business!
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Professional Support
Our ERC support specialist are there for you for all your questions and needs along the way!
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Custom Software
Our one of a kind software takes in to account all factors regarding your ERC to ensure that you are receiving the maximum refund.
HOW WILL THE PROCESS WORK?
After completing the application the next steps are..
01.
Gathering Documents
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Tax Credit Calculation
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Return Prep
.04
Get Paid
After completing our application one of our representatives will contact you to assist in gathering all necessary documents.
Our team will use their expertise to calculate how much credit you can receive from the IRS.
Our Accounting team will then prepare and help file the
941-X Amended payroll returns.
The IRS will process the credit and mail you a check directly.
ERC USA's Score Board
2,598
Businesses Qualified
$598,323,280
Total Credits Claimed
28,578
Employees Qualified
Updated August 14th 2022, 3:23pm Eastern Standard