Does Your Business Qualify for a “$26,000 Per W2 Employee Credit” via the Employee Retention Credit Program? Find Out Now!

Does Your Business Qualify for a “$26,000 Per W2 Employee Credit” via the Employee Retention Credit Program?

Find Out NOW!

Most of the world's major headlines in 2020 and 2021 were about businesses of all shapes and sizes bearing the brunt of COVID-19.

Being heavily active in the business community myself, I knew all too well how challenging the pandemic has been for our community.? Due to emergency government orders, businesses were forced to shut down, suspend operations, and indefinitely pause their processes.

It was basically bad news coming in hot…everyday.? Finally, some good news.?

Because the Government had to impose these restrictions, they have now released several programs aimed at supporting the affected businesses.? They’re looking to support these businesses by issuing tax refunds (could be very large refunds) if they qualify.

One such program that I wanted to share with you is the Employee Retention Credit (ERC). It was introduced in March 2020 and designed to reward and bolster the organizations that managed to retain their employees during the course of the pandemic.??

IMPORTANT: If you didn’t qualify in the past for the ERC Tax Credit, you should know that there have been quite a few updates that have made it easier to qualify for.?

What is ERC?

The ERC program awards up to $26,000 per W2 employee if your business qualifies for it. If you do some simple math, a company with 10 W2 employees could qualify for up to a whopping $260,000 in ERC funds.

And please note that this program is NOT A LOAN and does not have a cap on funding.

The tax return can be spent on anything, there are no restrictions.?

Although the ERC program was released at the same time as the PPP funding (Paycheck Protection Program), unfortunately, it has been poorly utilized nationwide. The primary cause of it was that the program had quite strict (and nearly impossible to meet) qualifications and provided much less funding before.

But here comes the best part. By November 2021, there have been several significant changes to the ERC program with the most recent amendment being signed into law that has expanded, enriched, and eased the rules of qualification for ERC funding.

Who are We?

We are ERC Simplified and we’ve been providing expert support and guidance to small businesses to benefit from this program since its inception. This includes, but is not limited to, an experienced accounting staff to assist businesses like yours in navigating more than 200 pages of official IRS documents, as well as compiling official government orders from every US state to provide solid ground for documenting qualifications.

Got Questions??

Here are some of the most frequently asked questions I get.

1: “How would I know whether I qualify for ERC or not?”

The easiest way would be to go to our site: ERCSimplified.com, click on the blue “Begin Qualifying” button on the top right, and simply answer the questions as accurately as possible.? It’s about 9 qualifying questions, its free to do and shouldn’t take more than 5-10 minutes.

We will tell you right then and there if you qualify!

At this point, you are free to choose whether you want to continue with the process or not.? If you decide to do so, we document the required information for the funding.

We then communicate with the IRS as needed to ensure you receive your full amount.

After that, you can sit back and relax as the IRS processes your return and issues your refund check.

At ERC Simplified, we have rediscovered BILLIONS of dollars for small businesses in the US!

2: “Do I use my Certified Public Accountant for claiming it or do it myself?”

You can.? The challenge is that the ERC credit is taken on your payroll returns and not through your business income tax returns, which is what most CPA's handle. Because of this, most CPA's don't process this credit unless they process your payroll in house.?

This is also a big reason why this credit is so underutilized. Since CPA's don't typically handle it, and they are the tax experts, it has mostly fallen in a middle ground where few are able to effectively process the credit. Interestingly, we receive a large portion of our clients from CPA's.

At ERC Simplified we have decades of payroll experience, which has allowed us to specifically focus on understanding and maximizing the ERC program.??

In our experience we have found that due to the complexity (the ERC tax code is over 200 pages) and time investment necessary to understand the ERC program, very few tax professionals dedicate the time to effectively maximize this sizable credit for your business.

3: What is the cost to do this?

ERC Simplified does not require an upfront fee for our service however,? we do ask for a small fee if we can get you a tax refund.? We understand your refund check may not arrive for several months (20 weeks minimum according to IRS documentation), so we offer two payment options - you may pay your fee upfront and receive a discount - or - the full fee can be deducted from your refund once it's received.??

Our fee is covered by our 100% Money Back Guarantee. If the IRS does not release the credit claimed for any reason, we will refund any payments made, no questions asked.

4. Is this a loan that I have to pay back?

No. This is not a loan.? It's a refundable tax credit.? When we file your ERC claim we request a refund check for you.

5. My revenue went up in 2020, can I still qualify for the ERC program?

Yes! There are two possible qualifications for 2020: revenue reduction, or a "full or partial shutdown of your business due to COVID-19".? Specifically the IRS describes this as "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." Below are several examples of qualifying events:

Example 1: A restaurant must close or limit its on-site dining. Such as having to close down every other table, due to COVID-19 restrictions.

Example 2: A business that needs to meet with clients in person and has to cancel meetings due to COVID-19 restrictions.

Example 3: A business has to reduce their operating hours because COVID-19 restrictions and cleaning requirements.

Example 4: A business had delayed production timelines caused by supply chain disruptions.

Example 5: A business with a planned event has to cancel that event, or restrict the amount of people who can attend due to COVID-19 restrictions.

For more FAQs, please visit: ERCSimplified.com?

It’s important to note that ERC funding is different from PPP; to begin with, you do not have to pay it back AND it can be used for virtually anything.??

So, here’s what you’ve got to do. Do not delay – the IRS is taking 4 to 6 months to process these returns.? With ERC credit becoming more available, the backlog of applications is increasing every day.

We hope you are able to take advantage of this potential windfall and if you have any friends, family members or others in your network that own a business with W2 employees, please share this article with them so they have the chance to take advantage too!

If you have any questions at all or need to discuss more, feel free to send me a message.??

Or simply visit ERCSimplified.com for TONS of info on the ERC Credit AND to see if you qualify.