US Businesses - Have you claimed ERTC yet?

What is ERTC?

Did your business keep employees on your payroll through the pandemic?

The ERTC is a refundable tax credit. It rewards businesses who retained their employees during the COVID-19 pandemic,?up to $26,000 per employee and you can claim the credit retrospectively.?

The?Employee Retention Credit, or ERTC or ERC,?was first launched in the early days of the COVID-19 pandemic as part of the CARES Act (Coronavirus Aid, Relief, and Economic Security Act) relief package. It was intended as an extra incentive for smaller businesses to retain their employees, although it was widely overshadowed by the Payment Protection Program which has now finished.

However, the ERTC is still available retroactively for both 2020 and 2021, the last 3 quarters of 2020 up to the first 3 quarters of 2021 . Importantly, small businesses that?received PPP loans are now eligible to claim the ERTC, too.

Businesses and non-profits with more than 3 and fewer than 500 full-time W-2 employees (unlimited part-time employees) that closed completely or limited operations during the COVID-19 pandemic may be eligible. If your business lost money compared to before the pandemic, you may also be eligible. Here are some reasons why businesses could claim:

• Supply chain disruptions
• Time taken away from shifts to clean/sanitize
• Time to wear PPE
• Federal, state or local mandates required your business to fully or partially shut down
• Limitations on the number of people you could have in a room or building
• Inability to attend normal networking events
• Disruptions to your sales force’s ability to function normally
• Limited capacity to operate
• Inability to work with vendors
• Reduction to the services or goods offered to customers
• Reduction to the hours of operations
• Shifting of hours of operations to increase facility sanitation
• Delayed or canceled projects due to Covid related disruptions

Note, the employee retention credit is a fully refundable tax credit for employers and it does not need to be paid back.?It is a permanent refund for you to keep, and invest or spend as you wish.

By the end of tax season 2022, millions of dollars will be available in the form of ERTC—make sure you are getting the cash you deserve if you’re eligible.

If you'd like to get an estimate of what you could potentially receive, just take 15 minutes to fill it some simple forms here:

https://portal.ertcexpress.com/qualify/jhall

This could be the most profitable 15 minutes of your life – what have you got to lose? (And don't worry if you don't know the exact number of employees, a reasonable estimate is fine at this stage).