WHAT IS ERC?

• ERC is Employee Retention Credit – If your company qualifies, you may be able to get a refund on employee payroll taxes you paid to the government during the Covid-19 pandemic.
• ERC is a stimulus program designed to help those businesses that were able to retain their employees during the Covid-19 pandemic.
• ERC is a refundable payroll tax credit that eligible employers may claim on qualified W-2 wages paid to employees in 2020 and 2021. This is a refund on payroll taxes you already paid, and that the IRS may refund to you.
• ERC was established by Congress in the CARES Act March 2020. It is for businesses that were either impacted by a governmental order (such as shutting down non-essential businesses) or suffered a significant loss of income due to COVID-19.  If your business was impacted by a government order in any way, not just a shutdown, please contact us.
• Even small and medium sized businesses can qualify. The guidelines have been expanded since originally written, so please contact us to discuss your situation.  It is possible you now qualify, even if you originally believed you did not.
• Because the CARES Act as originally written prohibited an employer from receiving both a PPP loan and ERC, many companies did not apply for both.  The guidelines have been updated, and with proper guidance it is now possible to qualify for both.