Does the IRS owe YOU money?
The Employee Retention Tax Credit has been recently updated, and is available for businesses who:
- have employees (not including owners)
- experienced revenue decline in 2020/2021
- were impacted by government mandates/shut-down orders
If your business experienced two out of the three of those criteria above, chances are that your business qualifies for the ERTC.
So what is the Employee Retention Tax Credit (ERTC)? The ERTC is a tax credit created in response to the COVID-19 pandemic to encourage businesses to keep employees on payroll during the height of the pandemic. This payroll tax credit is available for quarters 2020 and 2021. Your business can receive up to $26,000 per employee!
This is an IRS credit we are talking about here, so obviously there are hurdles to jump through and a maze of qualification calculations that need to be made to determine if and how much each business qualifies for. You’ll need to provide payroll, revenue, and other information to substantiate your claim for the credit.
If your business was affected by the COVID-19 pandemic, your business would likely qualify.
You may be thinking, “Does my business qualify? How much do I qualify for? How do I get the credit?” Well, good news: we’re here to help. You can click the link below for more information, and to schedule a free (no obligation!) consultation to discuss the ERTC.