Employee Retention Credit
MAKING THE REBOUND STRONGER
The Employee Retention Credit (ERC) was established with the CARES Act in 2020 in response to the pandemic. ERC is an incentive for businesses for 2020/2021 to keep employees on their payroll. There are no limitations on how you can spend the cash, and no arbitrary payroll benchmarks to establish. Businesses can apply for the Credit in 2022 for the 2020 and 2021 periods.
UP TO $5,000
PER EMPLOYEE IN 2020
(50% OF WAGES UP TO $10,000)
UP TO $7,000
PER EMPLOYEE FOR EACH OF THE FIRST THREE QUARTERS IN 2021
(70% OF WAGES UP TO $10,000)
UP TO $21,000
PER ELIGIBLE EMPLOYEE FOR 2021
HOW EMPLOYERS MAY BE ELIGIBLE:
If your business operations had been fully or partially suspended as a result of a government order OR
For 2020, if your business experienced a 50% reduction in quarterly receipts compared to a base period OR
For 2021, if your business experienced a 20% reduction in quarterly receipts compared to a base period
ANSWERS TO COMMON QUESTIONS:
You can qualify for the ERC even if you received PPP Loan Forgiveness in 2020 and/or 2021
Your business of up to 500 employees may qualify
While there are lots of nuances to qualify and detail for us to calculate, we make your filing for the ERC simple
IF YOU'RE INTERESTED IN LEARNING MORE ABOUT WHETHER YOU QUALIFY FOR THE EMPLOYEE RETENTION CREDIT AND HOW URC CAN HELP YOU MAXIMIZE YOUR REFUND, SET UP AN APPOINTMENT WITH URC BY VISITING OUR CONTACT PAGE, AND WE'LL DISCUSS IN GREATER DETAIL.