A regular CPA or payroll processor might not be well-versed in ERC. This is one of are specialties.
Regarding your eligibility.
We are a no-risk, contingency-based cost savings company meaning you only pay if you qualify and receive a grant.
If the credit you receive through the ERC exceeds your Social Security tax liability, you qualify for a refund. At the end of the quarter, the amount of these credits becomes reconciled on the employer’s Form 941.
This extension gives businesses several new benefits. For example, the 2021 update is the reason that employers can now receive 70% of the first $10,000 of qualified wages for each employee.
First, a company must have suffered either a full or partial suspension due to government orders. Alternatively, a company must have suffered a significant decline in gross receipts.
Regardless of which type of business you run, these retention credits are a tremendous benefit for your company. Consult your professional advisors to see how the number of employees may affect how you take a tax credit.
Another benefit of the ERC is that you can claim it easily if you qualify. All you have to do is claim it on your federal employment tax returns with your Form 941.
One of the final advantages of the Employee Retention Tax Credit is one we’ve alluded to previously. The IRS has outlined criteria for determining whether businesses can qualify in different sectors. These include private-sector organizations, tax-exempt entities, and nonprofit groups.
Just answer a few simple questions about your business.
Our team of specialists, at NO COST, will figure out exactly how much of a payroll tax refund you're owed.
Our team will assemble, package, and submit the final paperwork to the government. All you have to do is wait for your refund to arrive.
Lewis Duncan, Co-Founder
Your business qualifies for the ERC, if it falls under one of the following:
Yes. To qualify, your business must meet either one of the following criteria:
Many items are considered as changes in business operations, including shifts in job roles and the purchase of extra protective equipment. The ERC, in this case, also applies only for Q3 and Q4 of 2021. Businesses can qualify, regardless of the number of full-time employees.