Get up to $26,000
per EMPLOYEE
Did you know that many small businesses can still claim thousands of dollars in 2020 & 2021 tax relief based on COVID-related shutdowns and disruptions utilizing the Employee Retention Tax Credit?
if your BUSINESS:
-
Has fewer than 500 employees
-
Was affected by the pandemic
-
Has suffered a decline in revenue
-
Has W2 Employees on Payroll
You may be able to get a tax credit worth up to $26,000 per employee retained in both 2020 and 2021, and we can help!
Already Filed? We can get you up to 85%-100% of your ERC Refund amount within 2 weeks! ( ERC Bridge)
What is the Employee Retention Credit?
The Employee Retention Credit, or ERC, was created in the same CARES Act that founded PPP.
ERC is a tax credit that provides a refund of up to $26,000 cash back per employee retained during the pandemic in both 2020 & 2021.
Even though the tax credit expired in September 2021, qualified businesses, companies, and employers can still file paperwork and retroactively receive refund claims for the Employee Retention Credit.
Do I qualify?
If your business experienced disruptions due to shutdowns related to COVID-19 and you retained W2 employees in 2020 & 2021, your business will likely qualify — even if you received PPP loans. If you were previously told you did not qualify, it's worth rechecking as legislation has changed.
1099 contractors do not qualify.
How is it calculated?
Determining the proper amount of a refund is a complex accounting process. Although these are payroll tax credits, what you’ve paid in payroll tax has no bearing on your ERC calculations.
The refunds are based on many factors including qualifying quarters, number of employees, hours worked, wages paid, family members on payroll and if applicable, PPP loans, group health premiums and participation in other government programs to name a few. Work with our CPA's to get an ERC estimate and file for the retroactive credit you are most likely eligible for.
How can I claim my ERC Cash back?
-
Upload the required documents
-
We will review your documents to determine your eligibility and calculate your tax credit
-
Our team will send you the completed tax forms for your signature, and then file them with the IRS on your behalf
-
The IRS will mail you refund checks in 4+ months for each eligible quarter or you can use our ERC Bridge option to get your refund without waiting!
I already filed, now what?
Once you file for your ERC credit, receiving your check can take anywhere from 4+ months to be fully processed and sent out by the IRS. If you need the money now, we offer an ERC bridge option where you can borrow against your expected refund, and get funded up to 85%-100% of your expected refund amount within 2 weeks. Minimal documents are needed, there's only a one time filing fee, no loan to paypack.