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The Employee Retention Tax Credit
TeamYour Business Needs.
You deserve to have the financial resources needed to keep
your business prosperous and team thriving and happy.
The Employee Retention Tax Credit TeamYour Business Needs.
You deserve to have the financial resources needed to keep
your business prosperous and team thriving and happy.
Your number 1 fear as a business owner is running out of money.
But with the help of the ERC program from the IRS, qualified businesses can get money that is owed to them from the economic impact the pandemic had on their business.
When you run out of money...
You stress about business expenses rising with inflation.
You worry about payroll expenses
rising.
You feel overwhelmed about the demand for higher salaries.
We've made the process simple.
1. Fill out the form.
2. Provide the documentation.
3. Receive your check and continue to build a prosperous and thriving team.
DON'T MISS OUT ON THE LIMITED WINDOW TO CAPITALIZE ON A FINANCIAL OPPORTUNITY.
We've made the process simple.
1. Fill out the form.
2. Provide the documentation.
3. Receive your check and continue to build a prosperous and thriving team.
DON'T MISS OUT ON THE LIMITED WINDOW TO CAPITALIZE ON A FINANCIAL OPPORTUNITY.
Frequently Asked Questions
What is the Employee Retention Credit (ERC) or Employee Retention Tax Credit (ERTC)?
ERC is a stimulus program designed to help those businesses that were able to retain their employees during the Covid-19 pandemic.
Established by the CARES Act, it is a refundable tax credit - that you can claim for your business. The ERC is available to both small and mid-sized businesses. It is based on qualified wages and healthcare paid to employees.
Businesses can get up to $26,000 per employee.
Available for 2020 and 3 quarters of 2021.
Qualify with decreased revenue or a business impact.
No limit on fundingERC is a refundable tax credit.
What period does the ERC program cover?
The program began on March 13th, 2020 and continues to September 30th, 2021 for eligible employers.
You can apply for refunds for 2020 and 2021 after December 31st of this year, into 2022 and 2023. And potentially beyond then too.
There are some businesses who have received refunds only, and others that, in addition to refunds, also qualified to continue receiving ERC in every payroll they process through September 30, 2021, at about 30% of their payroll cost.
How much money can your business get back?
You can claim up to $5,000 per employee for 2020. For 2021, the credit can be up to $7,000 per employee per quarter.
How do you know if your business is eligible?
To qualify, your business must have been negatively impacted in either of the following ways:
A government authority required partial or full shutdown of your business during 2020 or 2021. This includes your operations being limited by commerce, inability to travel or restrictions of group meetings.
Gross receipt reduction criteria is different for 2020 and 2021, but is measured against the current quarter as compared to 2019 pre-COVID amounts.
A business can be eligible for one quarter and not another.
Initially, under the CARES Act of 2020, businesses were not able to qualify for the ERC if they had already received a Paycheck Protection Program (PPP) loan. With new legislation in 2021, employers are now eligible for both programs.
Do we still qualify for the ERC if we already took the PPP?
Yes. Under the Consolidated Appropriations Act, businesses can now qualify for the ERC even if they already received a PPP loan. Note, though, that the ERC will only apply to wages not used for the PPP.
Do we still qualify if we did not incur a 20% decline in gross receipts?
Your business qualifies for the ERC, if it falls under one of the following:
A government authority required partial or full shutdown of your business during 2020 or 2021. This includes your operations being limited by commerce, inability to travel or restrictions of group meetings.
Gross receipt reduction criteria is different for 2020 and 2021, but is measured against the current quarter as compared to 2019 pre-COVID amounts.
Do we still qualify if we remained open during the pandemic?
Yes. To qualify, your business must meet either one of the following criteria:
Experienced a decline in gross receipts by 20%, or
Had to change business operations due to government orders.
Many items are considered as changes in business operations, including shifts in job roles and the purchase of extra protective equipment.
What is the Employee Retention Credit (ERC) or Employee Retention Tax Credit (ERTC)?
ERC is a stimulus program designed to help those businesses that were able to retain their employees during the Covid-19 pandemic.
Established by the CARES Act, it is a refundable tax credit - that you can claim for your business. The ERC is available to both small and mid-sized businesses. It is based on qualified wages and healthcare paid to employees.
Businesses can get up to $26,000 per employee.
Available for 2020 and 3 quarters of 2021.
Qualify with decreased revenue or a business impact.
No limit on fundingERC is a refundable tax credit.
What period does the ERC program cover?
The program began on March 13th, 2020 and continues to September 30th, 2021 for eligible employers.
You can apply for refunds for 2020 and 2021 after December 31st of this year, into 2022 and 2023. And potentially beyond then too.
There are some businesses who have received refunds only, and others that, in addition to refunds, also qualified to continue receiving ERC in every payroll they process through September 30, 2021, at about 30% of their payroll cost.
How much money can your business get back?
You can claim up to $5,000 per employee for 2020. For 2021, the credit can be up to $7,000 per employee per quarter.
How do you know if your business is eligible?
To qualify, your business must have been negatively impacted in either of the following ways:
A government authority required partial or full shutdown of your business during 2020 or 2021. This includes your operations being limited by commerce, inability to travel or restrictions of group meetings.
Gross receipt reduction criteria is different for 2020 and 2021, but is measured against the current quarter as compared to 2019 pre-COVID amounts.
A business can be eligible for one quarter and not another.
Initially, under the CARES Act of 2020, businesses were not able to qualify for the ERC if they had already received a Paycheck Protection Program (PPP) loan. With new legislation in 2021, employers are now eligible for both programs.
Do we still qualify for the ERC if we already took the PPP?
Yes. Under the Consolidated Appropriations Act, businesses can now qualify for the ERC even if they already received a PPP loan. Note, though, that the ERC will only apply to wages not used for the PPP.
Do we still qualify if we did not incur a 20% decline in gross receipts?
Your business qualifies for the ERC, if it falls under one of the following:
A government authority required partial or full shutdown of your business during 2020 or 2021. This includes your operations being limited by commerce, inability to travel or restrictions of group meetings.
Gross receipt reduction criteria is different for 2020 and 2021, but is measured against the current quarter as compared to 2019 pre-COVID amounts.
Do we still qualify if we remained open during the pandemic?
Yes. To qualify, your business must meet either one of the following criteria:
Experienced a decline in gross receipts by 20%, or
Had to change business operations due to government orders.
Many items are considered as changes in business operations, including shifts in job roles and the purchase of extra protective equipment.
You can STILL file a new ERC claim!
On September 14, 2023, the IRS issued a moratorium on new ERC claims due to massive amounts of fraudulent claims made by predatory agencies. The moratorium DOES NOT prevent businesses from filing new ERC claims, but it does increase the processing time, as new claims are being held while the IRS cracks down on false claims already made. Jenkins Law Firm fully supports the IRS’s efforts to protect small businesses and we are continually dedicated to determining ERC eligibility with accuracy and integrity. The ERC program is still a viable means of monetary compensation for small businesses who were impacted by Covid. Schedule an appointment with us today to find out if you are eligible.
You can STILL file a new ERC claim!
On September 14, 2023, the IRS issued a moratorium on new ERC claims due to massive amounts of fraudulent claims made by predatory agencies.
The moratorium DOES NOT prevent businesses from filing new ERC claims, but it does increase the processing time, as new claims are being held while the IRS cracks down on false claims already made.
Jenkins Law Firm fully supports the IRS’s efforts to protect small businesses and we are continually dedicated to determining ERC eligibility with accuracy and integrity.
The ERC program is still a viable means of monetary compensation for small businesses who were impacted by Covid.
Schedule an appointment with us today to find out if you are eligible.
Absout Us
We are a full service Christian law firm that handles Employee Retention Tax Credit, individual and business bankruptcies, personal injury, landlord/tenant representation, enforcement of collection remedies, debt settlement negotiations, small business law (including formation, contract drafting and negotiation), guardianships, conservatorships, and probate/trust disputes and litigation. Jenkins Law Firm provides quality representation and strives to provide added value to each of our clients.
About Us
We are a full service Christian law firm that handles Employee Retention Tax Credit, individual and business bankruptcies, personal injury, landlord/tenant representation, enforcement of collection remedies, debt settlement negotiations, small business law (including formation, contract drafting and negotiation), guardianships, conservatorships, and probate/trust disputes and litigation. Jenkins Law Firm provides quality representation and strives to provide added value to each of our clients.
Qualify for the ERC Program today
Qualify for the ERC Program today
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