The Employee Retention Credit (ERC) is a government-sponsored stimulus program established by the CAREST Act. It was designed to incentivize small and mid-sized businesses to retain employees during the COVID-19 pandemic. ERC can provide your business with up to $26,000 in tax credits per employee for 2020 and 2021. If your business retained employees during the COVID-19 shutdowns, you could be eligible for this tax credit.
If your business applies to one or more of the three qualifications listed below,
you are eligible for the ERC:
ERC is a U.S. federal payroll tax credit designed to compensate businesses for retaining employees during the 2020 and 2021 COVID-19 shutdowns and slowdowns.
The program started on March 13th, 2020, and goes through September 30, 2021. However, the tax credit can be retroactively claimed into 2023 and potentially later.
Tax credits usually reduce the total amount of taxes owed. In this case, you are entitled to further compensation if your owed taxes
for 2020 and 2021 are reduced to zero. If your business has already filed 2020 and 2021 payroll taxes, you can retroactively claim the ERC to reduce your tax debt and even receive a surplus tax credit if your business’s payroll tax credits are reduced to zero.
If your business qualifies, you could receive as much
as $26,000 per eligible employee.
Yes, small businesses can retroactively apply for the ERC. So if you’ve already filed, no problem.
With our team of experts at Credible ERC, it is definitely worth the trouble! Depending on your qualifications, you could receive as little as tens of thousands of dollars to millions in tax credits and cash refunds!
Receiving the Employee Retention Tax Credit requires
navigating hundreds of pages of IRS documents, finding the right paperwork, and more. Luckily, at Credible ERC we handle everything from start to finish, making it a simple and easy process on your end. We’ll begin the process for you, organize your documentation, and manage the filing process, ensuring that you do the bare minimum to receive compensation from the ERC.
At Credible ERC, we do not charge a single penny in fees until your credit is completely and successfully processed with the IRS. In other words, we don’t get paid until you do.
Yes, as long as you meet one of the criteria listed below, your business qualifies:
1. Experienced a change in operations due to government orders.
2. Sustained a 20% decline in gross receipts during this period.
3. Qualified as a recovery start up business during the first three quarters of 2021.
Yes, businesses that took the Paycheck Protection Program loan (PPP) can still qualify, but the ERC will not apply to wages used for the PPP.
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