Deadline to Qualify is Approaching!
First introduced in CARES Act on March 25, 2020
2020: 50% wages, max of $5,000 per employee
2021: 70% wages, max $21,000 per employee
$7,000 - Q1, Q2, Q3
Fully refundable tax credit against employer portion of social security
Paid to you directly via check
Available to for-profit and not-for-profit
Claim by filling amended 941-X quarterly returns taking the ERC credit on Line 18 & 26
ERC is NOT a credit your CPA claims on your annual tax return and our CPA FIRMs work on this credit/ refund check will not interfere with your CPA's traditional tax work.
ERC is NOT a loan and does not need to be repaid or "forgiven" like a PPP.
ERC does NOT impact your PPP forgiveness or eligibility for PPP-2.
ERC does NOT require a revenue reduction.
"I do not qualify because my business"
While these are factors in the process, these do NOT disqualify you.
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