The Employee Retention Credit (ERC) was created during the coronavirus pandemic to encourage businesses to keep their employees, and was introduced as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).
While the ERC has proven beneficial to many businesses, the guidance surrounding this credit is lengthy and can be complicated based on your business’ circumstances.
To date, we have done over 100 ERC projects and helped our clients get back more than $85M in ERC funds.
Industries that qualify:
- Restaurants
- Manufacturing
- Construction
- Colleges & Universities
- Nonprofits
- Many More
Did you experience either:
- Gross Receipts Reduction of 50% on 2020 or 20% in 2021 compared to 2019
- Full or partial suspension of operations due to a COVID-related government order
- Limiting commerce
- Travel or group meeting
- Inability to procure essential supplies
- Supply chain disruptions
- Capacity limitations for operations & events
- Social distancing requirements
- 2020: Up to $5,000 per employee
- 2021: Up to $7,000 per employee per quarter (through 9/30/21)
What are the next steps?
Given that this is a refundable credit, there is no reason to wait to claim the ERC. Our dedicated professionals will work with you to see if your business qualifies for this credit and guide you through next steps.
For more information and to see if your business is eligible for the ERC, fill out the form below and one of our experts will reach out to you.
