What is the Employee Retention Tax Credit Program?

The employee retention tax credit (ERC) was introduced by the CARES Act 2020 to encourage employers to keep employees on payroll through the pandemic.

ERC is a refundable tax credit that businesses including those that took a loan under PPP, can claim on qualified wages paid to employees during 2020 and 2021.

For 2020, ERC provided eligible employers a refundable tax credit of up to $5,000 per employee for qualified wages paid between 3/12/20 to 12/31/20.

Scope of the bill was dramatically expanded for 2021 which increased the refundable tax credit to $7,000 per employee, per quarter for qualified wages paid during the first 3 quarters ending on Sep 30, 2021. That’s potentially up to $21,000 per employee for 2021.


Eligibility - Who Can Claim the Employee Retention Credit?

If your business operations were impacted or changed during an applicable calendar quarter due to a COVID-19 related government order.
For quarters in 2021, If your business revenue dropped by more than 20% compared to the same quarter in 2019 or the immediately preceding quarter.

The Value

The Employee Retention Credit is currently one of the largest credits available to business owners, delivering thousands of dollars in credits per employee with qualified wages. A manufacturing company with an annual revenue of $115 million and 246 employees received a credit equal to $1.06 million in Q1 of 2021. A few of their qualifying factors were:
20% drop in quarterly revenue;
Numerous projects were canceled or delayed to COVID-related disruptions; and
Delayed production timelines caused by supply chain disruptions.

ERC Partners

A risk-free, no-cost assessment

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Bad credit

Bad credit? Let's help you navigate past traditional qualification barriers..

You’ve had some bumps along the road when it comes to credit, or maybe your business doesn’t have  the perfect track record… and you realize that getting traditional funding could be a challenge…

We understand the anxiety about passing up an amazing opportunity to grow, or maybe, save your business from potential shutdown, just because banks are reluctant to lend.

But here’s the good news, we help business owners in the exact same situation as yours every day.

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