Employee Retention Credit is part of the CARES Act funded by the US Treasury.
What is it’s purpose?
ERC is a program designed to incentivize businesses that were able to retain their employees during the Covid-19 pandemic to stay in business.
Why should I claim it?
It is your money, not a loan or aid. It is funded to you based on qualified wages you paid to w2 employees during the Covid-19 pandemic, up to 70% of your actual payroll.
Were you affected negatively during the pandemic from Oct 2020 through Sep 2021? If yes,
Why don’t many businesses know about this?
The CARES Act and ERC were introduced during the last administration and implemented by the current administration. Politicians often do not advertise that they agree on some things.
Watch a 3 min video here: https://ERC2024.com (scroll down a page and a half). After you watch the video we suggest clicking on “Get Started” and it will let you book a ten minute phone call at your convenience. You are also welcome to contact me personally if you have any unanswered questions.
When is the deadline?
You must apply by April 15, 2024 for 2020 benefits, and April 15, 2025 for 2021 claims.
How is it paid?
A check from the US Treasury is issued to the business who paid the w2 employees and their payroll taxes. (Holder of the EIN – Employer Identification Number)
What is my obligation?
After you receive your check from the US Treasury, we will receive a processing fee.
Are there any fees to qualify?
No. It takes about 10 minutes on a phone call to find out.
What forms do I have to fill out?
First is a 941X. There are several others which we will fill out and file for you, including the 941X. That is an ammended 941 quarterly payroll tax form. You may also use your CPA, however, we have found most CPA’s are not very familiar with the ERC, since it is a ‘one-time’ event. We have also assisted over 15,000 businesses receive in excess of 4 Billion dollars in ERC payments.
What can I spend the funds on?
No restrictions.
Where can I apply?
Questions?
Write us: admin@erc.wiki or call me: 801-680-1414 (1 pm to 10 pm MDT)