Employee Retention Credit Funding can be complicated. We can help.
We specialize in Maximizing ERC Funding for Small Businesses.
What is the Employee Retention Credit?
Watch this video to learn more.
The Employee Retention Credit
COVID-19 has been a challenge for all of us. As the world shut down the economy came to a halt, leaving the future of many businesses in a precarious position. As we begin to find normalcy again, businesses now have to focus on recovering and fortunately, several government programs are easing this process.
One such program is the Employee Retention Credit or ERC, which is a generous stimulus program designed to bolster those businesses that were able to retain their employees during this challenging time. Due to the extremely complex tax code and qualifications, it is severely underutilized. Details of the program include:
UP TO $26,000 PER EMPLOYEE
AVAILABLE FOR 2020 & Q1 - Q3 2021
QUALIFY WITH DECREASED REVENUE
OR QUALIFY WITH COVID EVENT
NO LIMIT ON FUNDING (ERC IS NOT A LOAN)
ERC IS A REFUNDABLE TAX CREDIT
The Numbers Speak for Themselves
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In All 50 States!
FULL OR PARTIAL SUSPENSION OF BUSINESS SERVICES
A government authority required partial or full shutdown of your business during 2020 or 2021. This includes your operations being limited by commerce, inability to travel, or restrictions of group meetings.
GROSS RECEIPTS REDUCTION
What Our Clients Are Saying
When I heard about the ERC program I reached out to my CPA. 30 minutes later he called and said I didn’t qualify. Out of curiosity, I had ERC Specialists see if I qualified. Turns out I received the ERC for 7 of my 9 employees. Highly recommended.
Frequently Asked Questions
Do I have to repay the ERC Credit?
No. This is not a loan. It’s a refundable tax credit. When we file your ERC claim we request a refund check for you.
How much do you charge?
Can't I just have my CPA file? Why would I use ERC Specialists?
Of course. The challenge is the ERC credit is taken on your payroll returns and not through your business income tax returns, which is what most CPA’s handle. Because of this most CPA’s don’t process this credit, unless they process your payroll in house. This is also a big reason why this credit is so underutilized. Since CPA’s don’t typically handle it and they are the tax experts, it has mostly fallen in a middle ground where few are able to effectively process the credit. Interestingly, we receive a large portion of our clients from CPA’s.
At ERC Specialists we have decades of payroll experience, which has allowed us to specifically focus to understanding and maximizing the ERC program. In our experience we have found that due to the complexity (the ERC tax code is over 200 pages) and time investment necessary to understand the ERC program, very few are able to effectively maximize this sizeable credit for your business.
Can I get ERC Funds if I already took the PPP?
Yes. The Taxpayer Certainty and Disaster Tax Relief Act of 2020, enacted December 27, 2020, modified the ERC credit rules. One of the modifications included allowing a company to have a PPP loan and still take advantage of the ERC credit. However, you can’t use the same dollar for dollar funds. We take this into account when processing your ERC credit.
My revenue went up in 2020, can I still qualify for the ERC program?
Yes! There are two possible qualifications for 2020: revenue reduction, or a “full or partial shutdown of your business due to COVID-19”. Specifically the IRS describes this as “A government authority required partial or full shutdown of your business during 2020 or 2021. This includes your operations being limited by commerce, inability to travel or restrictions of group meetings.” Below are several examples of qualifying events:
Example 1: A restaurant must close or limit its on-site dining. Such as having to close down every other table, due to COVID-19 restrictions.
Example 2: A business that needs to meet with clients in person and has to cancel meetings due to COVID-19 restrictions.
Example 3: A business has to reduce their operating hours because COVID-19 restrictions and cleaning requirements.
Example 4: A business had delayed production timelines caused by supply chain disruptions.
Example 5: A business with a planned event has to cancel that event, or restrict the amount of people who can attend due to COVID-19 restrictions.
I'm a CPA or a payroll company, can I refer my clients to ERC Specialists?
Will the ERC funds run out?
How will I make payment?
We understand your refund check may not arrive for several months (20 weeks minimum according to IRS documentation), so we offer two payment options – you may pay your fee upfront at a discount – or – the full fee can be deducted from your refund once received. Upfront payments can be completed by credit card. Regardless our fee is covered by our 100% Money Back Guarantee. If the IRS does not release the credit claimed for any reason, we will refund any payments made.
I'm getting more in ERC Credit than I paid in taxes?
As an owner do my wages, or the wages of any family member I employ qualify?
Can I qualify for the ERC if I'm self employed?
How long does it take to get my ERC Credit?
Is the ERC Credit taxable?
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