The ERC is a valuable tax break, not a loan. Available for 2020 and the first three quarters of 2021.
If your business suffered decreased revenue, supply chain disruption, or government mandates.
The ERC is an economic recovery program created by the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
We are dedicated to upholding the law by filing our claims in accordance with current tax regulations.Speak with an expert
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Yes. Before the Consolidated Appropriations Act (CAA) was passed in December 2020, businesses could not claim ERC if they had accepted a PPP loan. With the updated CAA, businesses are eligible even if they claimed a Paycheck Protection Program (PPP) loan.
Yes. Both essential and non-essential businesses can qualify for the Employee Retention Credit. Even if your business saw an increase in sales, you may still be eligible if you experienced disruptions or negative impacts. A decline in revenue is not required.
We have helped businesses claim the Employee Retention Credit who were previously told they don't qualify by their accountant and other firms. It's free to see how much your company could potentially recover.
Many businesses that are now closed are eligible for the ERC when they were still open. The ERC is based on your gross receipts, not on whether your business is open or closed.
It depends on your ownership stake and the wages of any family members you employ. If you have majority ownership (over 50%), your wages and the wages of any immediate family members do not qualify for the ERC. However, if you have less than 50% ownership, your W2 wages and the wages of any immediate family members do qualify for the program.
The credit is worth up to $26,000 per employee, per employer. The total amount of the credit depends on the number of employees retained and the impact of the pandemic on the business.
As of 2022, the IRS estimates that it can take an average of 18-24 weeks to process a business's ERC claim and issue a refund check from the US Treasury.
The employee retention credit is set to expire once all the funds are claimed, which means you need to act quickly if you want to take advantage of it.
Unlike the PPP, the ERC is not a loan but a direct payment for your business. You have the flexibility to use the funds as you see fit.
Unless your CPA has filed an Employee Retention Credit (ERC) on your behalf, this tax code is probably out of their scope. Most CPAs don't handle payroll returns, so they may not be familiar with the Employee Retention Credit (ERC) and may not be able to help your business qualify for it. Payroll providers may submit your ERC claim but won't help you determine your eligibility or qualified wages. It's important to be careful when filing your ERC claim, as there may be penalties for misrepresenting it. At ERCMaxCredit, we have experience with payroll processing and government tax refunds and can help maximize your ERC claim. Our experts will ensure you get the maximum credit the first time.
At ERCMaxCredit, our main concern in the case of an audit is to ensure that your ERC claim is compliant with all the rules and regulations of the IRS. Every claim will include Tax Audit Defense. We conduct multiple internal reviews to carefully analyze your file and guarantee that the supporting evidence for your ERC claim is unassailable and leaves no room for ambiguity. Your case manager will also document all the facts used to maximize the ERC credit for your business. By taking these steps, we can help you mitigate the risk of an audit and ensure that your ERC claim is as robust as possible.
You can get a complimentary analysis of your potential refund without any upfront fees or commitments. There are no hidden costs, and you will never have to pay us out of pocket. Our fee is only charged when you receive your refund checks. Our team of expert CPAs and tax attorneys will handle all the details of preparing and submitting your ERC refund claims. Contact our team to learn if you qualify and how our team can help.