What are ERCs?

The Payroll Tax Credit Refund known as the Employee Retention Credit (ERC) is designed to incentivize businesses to keep employees during the COVID-19 pandemic.

Business owners may receive a refundable credit of up to $5,000 per employee for qualified wages in 2020 and up to $7,000 per employee per quarter (excluding the fourth quarter) in 2021. The credit is not a loan and does not need to be repaid; it is a refund check that can be used at the discretion of the business owner.

The ERC was first introduced in March 2020 as part of the CARES Act, and it was expanded upon with the Consolidated Appropriations Act in December 2020 and the American Rescue Plan Act in June 2021.

 

 

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HOW DOES IT WORK?

Receive an instant assessment of your eligibility and credit amount at no cost by answering a few basic questions.

Upload a few required documents and let our partner CPAs get to work.

Your credit with the IRS is determined by the CPAs after reviewing your documents.

After finalizing the credit amounts, the CPAs file all necessary forms with the IRS.

Work with the IRS until your credit is fully received.

After receiving the credit, you pay a percentage to the CPA firm.

 

 

 

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