Here’s a closer look at what the ERC is, how loans and advances work and how to qualify and apply once ERC tax credit applications resume. What is the Employee Retention tax credit, and how much can I claim? Enacted as part of the CARES Act in 2020, the ERC is a tax credit for...
Use our Tax Credit Estimator to calculate potential savings. Learn about the Employee Retention Credit (ERC), Employee Recession Tax Credit (ERTC), and more.
As a business owner or employer, it is essential to stay updated on the latest tax credits and incentives that can help save your company money. One such credit is the Employee Retention Credit (ERC), which was introduced as part of the Coronavirus Aid, Relief, and Economic Security (CARES...
How to qualify as a recovery startup business to claim the employee retention credit The CARES Act provided for an employee retention credit (ERTC) for eligible employers that pay qualified wages to some or all employees after March 12, 2020, and before January 1, 2021. Subsequent legislati...
How To Check The Status of Your ERC Refund Claim The Employee Retention Credit (ERC) is a refundable tax credit that the US government introduced in response to the COVID-19 pandemic. It is designed to help eligible businesses offset the financial impact of the pandemic by providing a tax ...
have a relatively straightforward payroll system and have been diligent in keeping accurate records, the processing time may be smoother and faster. However, if your business operates across multiple states or has complex payroll structures, it may take longer to calculate and claim the ERC credit....
"My CPA will claim this credit on my annual tax return” If eligible, your practice will need to amend your filed returns for 2020 and 2021 by filing IRS Form 941-X and retroactively claim the ERC for each year. “I am an ‘essential business’ so I do not qualify” Although healthca...
The Employee Retention Credit can be worth up to $7,000 per employee per quarter to your small business. Here’s a look at who’s eligible and how to apply.
Should you claim the ERC? Small businesses looking to take advantage of the Employee Retention Credit (ERC) must carefully evaluate all eligibility requirements and closely follow IRS guidance. It's imperative to choose the right advisor who can help you assess your eligibility, understand...
How do you avoid being scammed if you’re a small business owner who has claimed or is planning to claim the ERC tax credit? In this post, we’ll provide the latest information on what ERC scams are, how scammers are tricking taxpayers, and how to avoid and report ERC scams before th...