Employee Retention Credit (Erc) Specialist - Partnership
CurrentEmployee Retention Credit (ERC) is a refundable tax credit originating as part of the CARES Act to provide economic relief for small and medium businesses who retained employees during the COVID-19 pandemic. Initially, eligible employers could only participate in either the Paycheck Protection Program (PPP) or the ERC. In 2021, as part of the Consolidated Appropriations Act, Congress amended this provision allowing businesses to apply for both. Determining the proper amount of a refund is a complex accounting process, and although these are payroll tax credits, what you have paid in payroll taxes has no bearing on ERC calculations. The refunds are based on many factors including qualifying quarters, number of employees, hours worked, wages paid, and if applicable, PPP loans, group health premiums and participation in other government programs to name a few. Employers, if eligible, could realize up to $26,000 per employee for qualifying quarters. Our customers have recovered over $5 billion dollars in refunds for qualified businesses, some of which were previously told they did not qualify. Claims are prepared by professional CPAs and/or tax attorneys who are experienced in qualifying, substantiating, and calculating your ERC funds. There are no up-front fees or obligation to receive your refund analysis. Once engaged to recover your funds, our fee is 25% with no hidden costs. We are paid only as you receive your refund checks. It is our mission to educate and obtain for your business the payroll tax refund that it is entitled to. Time is of the essence in claiming your refund. Claimants must file by April 15, 2024 for qualifying quarters in 2020 and by April 15, 2025 for qualifying quarters in 2021.