Claim Your Employee Retention Tax Credit (ERTC)
Many businesses will meet the qualification criteria and just don't know how to proceed!
Claim Your Employee Retention Tax Credit (ERTC)
Many businesses will meet the qualification criteria and just don't know how to proceed!
You Don't Just Need a Revenue Decline to Claim the ERTC....
The employee retention credit (ERTC) is a fully refundable tax credit employers with employees on payroll can claim. The goal is to help employers come back from the financial fallout of the COVID-19 pandemic and regain economic stability.
Many businesses assume they must have reported a decline in revenue, or have received “non-essential business” status, or think that they have forfeited their right to their ERTC after claiming any of the PPP rounds, but that’s not the case.
Often, businesses qualify for the ERTC but don’t know how to take advantage of this credit or where to go for help.
Here are some ways to Potentially Qualify for the ERTC:
- Capacity Restrictions
- Supply Chain Disruption
- Travel Restrictions
- Commerce Disruption
- Group Gathering Limitations
- Vendor and Customer Restrictions
- Full or Partial Shutdowns
- Jobsite or Customer Shutdowns
- Work-from-Home Orders
Who Qualifies....
For-profit businesses and tax-exempt organizations operating in any calendar quarter of 2020 or 2021 can claim this credit, if they meet certain criteria listed below:
- The business had to fully or partially suspend activities due to a pandemic-related government order limiting commerce, travel, or group meetings because of COVID-19, but only during enforcement of the order.
- The business experienced certain revenue declines in a quarter in 2020 or 2021 when compared to 2019.
