what is the employee retention credit (erc)?

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• Refundable Payroll Tax Credit for “qualified wages” paid to retained full-time employees  
• Simply put, the ERC is to reward business owners for their efforts to keep employees on payroll during the pandemic.
• First introduced in the CARES ACT in March, 2020
• Congress passed a $1.9 Trillion Dollar Covid-relief bill 
• Fully refundable tax credit against employer portion of social security
• Paid to you directly to you via check

 Eligible Employers  for the purposes of the Employee Retention Credit are those that:

• Carry on a trade or business during calendar years 2020 / 2021
• Have 2 or more active W2 Full-Time Employees 
• Have been  impacted by COVID-19

 NO, ERC is NOT a loan and does not need to be repaid or "forgiven" like PPP. 

 ERC does NOT require a revenue reduction. 

NO, ERC does NOT impact your PPP forgiveness or eligibility for PPP. 

You may still be eligible to qualify for ERC!  In 2021 Congress made changes to the eligibility requirements.  Businesses can now claim the ERC alongside PPP and other paycheck protection programs.   

It is paid to you directly from the IRS via check. 

• Online Zoom Meetings vs. in person meetings
• Shifted to work from home model
• Loss or decline of Revenue
• Cancellation of Industry Conferences
• Supply chain interruptions
• Limited capacity to operate
• Partial shut down

These are just a few examples.... 

a)    Completed Client Questionnaire 

b)    Payroll Summary showing each Employee From:

c)    March 13th to March 31st, 2020. (In CSV Format)

d)    Payroll Summary for each Employee from: Q2, Q3, and Q4, 2020. (In CSV Format)

e)    Payroll Summary for each Employee from: Q1 and Q2, 2021. (In CSV Format)

f)     PPP Loan Forgiveness Application. Paperwork should show Correct Covered Period.

g)    PPP 2 Loan Forgiveness Application. Paperwork should show Correct Covered Period.

h)    Gross Receipts 2019 by quarter, 2020 by quarter, and 2021 by quarter.

i)     Gross Sales: 2019 Annual and Quarterly, 2020 Annual, 2021 Quarterly Gross Sales. 

j)    Quarterly 941 tax filings for Q2, Q3 and Q4 of 2020 and Q 1, and Q2 of 2021 

No financial risk to you!  A $2,600 FULLY REFUNDABLE DEPOSIT is required to begin the engagement to ensure you are timely with delivery of required payroll data and documents needed.  This deposit is subtracted from the amount due when you receive your Employee Tax Credit Refund Check.   This deposit is FULLY REFUNDED if we cannot submit a claim for any reason whatsoever. 

You will be charged a contingency fee of 15% on amount of credits delivered, minus the $2,600 down deposit.    This is invoiced to you once you have received your Employee Retention Credit (ERC). 

Once your file has been processed and submitted, you can expect to receive your refund check within as little as 15 weeks.  However, as this is coming directly from the IRS,  timing  may vary.   We suggest qualifying now  in order to receive your check as soon as possible.