While the general qualifications for the Employee Retention Credit ( ERC) Program seems simple, the interpretation of each qualification is very complex. Our significant experience allows us to ensure we maximize any qualifications that may be available to your company.
RETENTION CREDIT
The Employee Retention Credit (ERC) is a refundable tax credit for eligible employers that retained their employees during the COVID-19 pandemic. The credit is available to employers of all sizes, designed to encourage employers to keep their workers on the payroll.
To be eligible for the Employee Retention Credit, employers must have experienced a reduction in gross receipts compared to the same quarter in 2019. Employers can claim the credit for each employee they retain on their payroll from March 13, 2020, through December 31, 2020.
CREDIT AMOUNT
The maximum credit amount is $5,000 to $7,000 per employee per quarter. Companies can apply for the credit against the employer's Social Security tax liability and any excess amounts IRS refunds to the employer. ERC is a tax credit program for retaining employees.
To be eligible for the credit, companies must have experienced a decline in gross receipts of at least 50% for 2020, comparable to the same quarter in 2019. The qualification ends when or if the revenue reductions in 2020 get back to 80% of the 2019 level. For 2021 business must have a decline in gross receipts of at least 20% that correlates to the exact quarter in 2019 (2020 if your company was not in business during the quarter in 2019).
Maximum Available - Highly Recommend - Super Smooth
ERCN is very good at what they do, they made the process easy to follow and it only took a few minutes out of my busy dat. Their team of experts explained everything to me and ensured I qualify for the maximum available. I recommended them to some of my business owner friends and they are very thankful with the results as well.
Since I go a PPP Loan I thought I didn't qualify. Out of curiosity, I had ERC Nationwide see if I qualified, the form on their website made it easy for me to fill out and check. Turns out I received the ERC for 7 of my 12 employees. It is money I really was not counting on, Highly recommend everyone to check if there is any money available for their business, it is free to check.
After spending tons of hours trying to figure out how to do Employee Retention Credit on our own for our dental clinic, but it was not easy. We reached out to ERC Nation and it was super smooth. They handled all the forms, calculations, and helped us maximize how much we could qualify for. They filed our forms and we got a $78k check 7 months later. Thanks guys!
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