Get a check for $26k per employee from the IRS
Your business was hurt. But you kept your employees on payroll. The Employee Retention Credit means the IRS might owe you up to $26,000 per employee.
We’ll help you find out if you qualify, maximize your credit, and complete the forms to get you a check in the mail from the IRS as quickly as possible.
No risk. No worries.
Why? Because there is no charge if your business is not eligible.
Over 50% of eligible businesses are not even aware of this government program.
Luckily, that is why we are here. Get started with us today so that you can get back to doing what you love.
What is the Employee Retention Credit?
The Employee Retention Credit is a fully refundable tax credit for qualified wages (including allocable qualified health plan expenses) that Eligible Employers pay their employees.
What are “qualified health plan expenses”?
Qualified health plan expenses are amounts paid or incurred by an Eligible Employer that are properly allocable to employees’ qualified wages to provide and maintain a group health plan, but only to the extent that these amounts are excluded from the employees’ gross income.
May an Eligible Employer receive both the tax credit for qualified leave wages under the FFCRA and the Employee Retention Credit under the CARES Act?
Yes, but not for the same wages. The amount of qualified wages for which an Eligible Employer may claim the Employee Retention Credit does not include the amount of qualified sick and family leave wages for which the employer receives tax credits under the FFCRA.
Who is an Eligible Employer?
Eligible Employers for the purposes of the Employee Retention Credit are employers that carry on a trade or business during calendar year 2020, including tax-exempt organizations, that either: (1) Fully or partially suspend operation during any calendar quarter in 2020 due to orders from an appropriate governmental authority limiting commerce, travel, or group meetings (for commercial, social, religious, or other purposes) due to COVID-19; or (2) Experience a significant decline in gross receipts during the calendar quarter; or (3) began operations after February 14th 2020.
Against what employment taxes does the Employee Retention Credit apply?
The credit is allowed against the employer’s share of social security taxes under section 3111(a) of the Internal Revenue Code (the “Code”), and the portion of taxes imposed on railroad employers under section 3221(a) of the Railroad Retirement Tax Act (RRTA) that corresponds to the social security taxes under section 3111(a) of the Code.
How much money can I receive per employee?
For 2020 the max is $5,000 per employee. For 2021, the maximum is $21,000 per employee.
When is the operation of a trade or business partially suspended for the purposes of the Employee Retention Credit?
The operation of a trade or business is partially suspended if an appropriate governmental authority imposes restrictions on the employer’s operations by limiting commerce, travel, or group meetings (for commercial, social, religious, or other purposes) due to COVID-19 such that the employer can still continue some, but not all of its typical operations.
Can I receive both PPP and ERTC?
Yes, but not for the same wages. In other words, you cannot claim for the same period of time, both PPP forgiveness and ERTC.
Are Eligible Employers required to withhold federal employment taxes on qualified wages paid to employees?
Yes. Qualified wages are wages subject to withholding of federal income tax and both the employer’s and employee’s shares of social security and Medicare taxes. Qualified wages are also considered wages for purposes of other benefits that the employer provides, such as contributions to 401(k) plans.
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