ERTC ERC Refund Program for Businesses and Ministries
If you had 1 or more employees during 2020 and/or 2021, you may be eligible for a tax credit through the Employee Retention Tax Credit program.
Remembering the year 2020 can bring instant indigestion, induce anxiety, and have you saying “thank goodness that’s over!” It was a time of change for every single business and household. You did things you probably never thought you would have to do, pivoted in your personal and professional life, and maybe learned a new way of working altogether.
While it might be easier to just put it in the past and move on, you could be leaving money on the table.
Show me the money
The Employee Retention Tax Credit (ERTC or ERC) was designed to encourage employers to retain their employees during the pandemic. This is not a loan or a grant from the government, but rather your very own payroll tax dollars refunded to your entity.
Since its inception through the CARES Act in March 2020, the ERTC has been through several changes and the documentation totals over 1,300 pages.
You don’t have to be an expert in the tax code
In order to take advantage of this tax credit, you don’t need to run out and get your CPA certification. There are 2 primary ways to qualify for the tax credit:
Show a dip in revenue. The loss of revenue could be either 20% or 50% quarterly depending on the year that you are claiming. Even if you don’t qualify back on this revenue test, there is still a good chance you may qualify through test 2…
Have a disruption, partial suspension of services or supply chain issues due to COVID and government orders. This does not mean a complete shutdown of services. Mandates such as social distancing, temperature screening, cleaning and sanitizing, supply chain issues and other operational disruptions due to COVID-19 can be enough to qualify.
Most entities qualify under the second test due to disruption from government orders at the federal, state, or local level.
Time is of the essence
There have been 13 changes or clarifications to this tax credit in the last 3 years. There is nothing preventing the government from suspending this program at any point.
The qualification process is not guaranteed, but waiting could mean that the tax credit expires before you “get around” to taking advantage of it.
Get your tax dollars back
This is the easy part. Just fill out a simple form.
As the original ERTC consultant, we have been helping businesses and ministries get their tax credits since day 1 of the ERTC ERC program. We are experts in the 1,300 page document and can help you know whether your business qualifies. We also maintain all the documentation for the entire process in a master file for each client so that any potential lookback would have proper documentation and justification.
Time is of the essence. This program won’t last forever. Start your application today.
