Forget What You Think You Know About ERC. 80% Of Business Now Qualify Under Changes To The Cares Act.
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What Is The Employee Retention Tax Credit?
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THE EMPLOYEE RETENTION TAX CREDIT
COVID-19 has been a challenge for all of us. As the world shut down the economy came to a halt, leaving the future of many businesses in a precarious position. As we begin to find normalcy again, businesses now have to focus on recovering and fortunately, several government programs are easing this process.
One such program is the Employee Retention Tax Credit or ERTC, which is a generous stimulus program designed to bolster those businesses that we're able to retain their employees during this challenging time. Due to the extremely complex tax code and qualifications, it is severely underutilized. Details of the program include:
- UP TO $26,000 PER EMPLOYEE
- AVAILABLE FOR 2020 & Q1 - Q3 2021
- QUALIFY WITH DECREASED REVENUE OR PANDEMIC DISRUPTION
- NO LIMIT ON FUNDING
- ERTC IS NOT A LOAN
WHY MY ERTC?
Dedicated To ERTC
No need to be the guinea pig for your CPA. We average 10-20% more funding than a CPA not familiar with the program
We evaluate your claim in every way possible to ensure we maximize your credit
Lighting Fast Results
Our streamlined processes allow for faster results, which means faster funding.
Audit Protection Included
If you get audited, we will supply all criteria and assist in responding to the IRS.
ERTC Program Specialists
Our team strictly focuses on ERTC allowing us to be the experts and resulting in more funding for your business
Although our process is quick and painless, when you have questions we have answers with a dedicated team of ERTC support specialists
Ready To Get Started?
While the general qualifications for the ERTC program seem simple, the interpretation of each qualification is very complex. Our significant experience allows us to ensure we maximize any qualifications that may be available to your company.
FULL OR PARTIAL SUSPENSION OF BUSINESS OPERATIONS
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 RECEIPTS REDUCTION
Gross receipt reduction criteria are different for 2020 and 2021 but are measured against the current quarter as compared to 2019 pre-COVID amounts.
Frequently Asked Questions
Do I have to repay the ERTC Credit?
No. This is not a loan. It's a refundable tax credit. When we file your ERTC claim we request a refund check for you.
How much do you charge?
Our service charge is based on a percentage of the credit recovered. We calculate and provide our fee with our free analysis. Since we are typically able to recover 10-20% more than someone less familiar with the program, our fee is very affordable. Just like a good CPA, using the right team for this process pays for itself.
Can't I just have my CPA file? Why would I use ERTC Specialists?
The reason most CPA resist filing for the ERTC is that the rules keep changing and ongoing research must be done to determine if, and how much you qualify for. Federal, state, county and local mandates must be scrutinized as to how they impacted your unique business. That’s why you need more than just an accountant. At Revenue Return Specialists we have a team of CPA ERTC specialists, tax law experts and ERTC incentive researchers who collaborate to maximize your total benefit.
Can I get ERTC Funds if I already took the PPP?
Yes. The Taxpayer Certainty and Disaster Tax Relief Act of 2020, enacted December 27, 2020, modified the ERTC credit rules. One of the modifications included allowing a company to have a PPP loan and still take advantage of the ERTC credit. However, you can't use the same dollar for dollar funds. We take this into account when processing your ERTC credit.
My revenue went up in 2020, can I still qualify for the ERTC 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.
I'm a CPA or a payroll company, can I refer my clients to ERTC Specialists?
Will the ERTC funds run out?
This is not a lending program - tax refunds are issued by the US Treasury. Therefore, all eligible employers will receive the funds.
How will I make payment?
We understand your refund check may not arrive for several months, so we offer our services on a 100% contingency basis. That means if you don’t get paid, we don’t get paid. Once your funds have been approved and your US Treasury check or bank deposit has been issued, we will invoice you 18% of your ERTC refund for our services. We only get paid after your funds have been received.
I'm getting more in ERTC Credit than I paid in taxes?
Remember that this program is taken according to payroll taxes paid, not on income taxes. ERTC funds not applied towards owed payroll taxes are treated as an 'overdeposit' of taxes that will be requested as a refund check from the IRS.
As an owner do my wages, or the wages of any family member I employ qualify?
Maybe. Wages of owners who have majority ownership, defined as over 50%, do not qualify, nor do the W2 wages of any immediate family members of the owner. In the case an owner has less than 50% ownership, their W2 wages qualify, as do the W2 wages paid to immediate family members.
Can I qualify for the ERTC if I'm self employed?
No, if you are majority owner (over 50%) of your company then your wages do not qualify.
How long does it take to get my ERTC Credit?
This is how the process works: you send us the required documents and we process an analysis at no charge. This analysis typically takes 3-5 days to complete and once you wish to move forward, we file your claim. Once filed, refunds are released based on IRS backlog. Currently, the IRS has stipulated a 16 week minimum turnaround on the ERTC refunds.
Is the ERTC Credit taxable?
The ERTC credit is not considered income for federal income tax purposes, but you must reduce any deductible wage expenses by the amount of the credit. Please provide the credit information to your CPA for tax purposes.
ASK US ANYTHING
- Qualify & File Without Paying Anything
- Payroll Specialty CPAs
- Expertise To Maximize Your Credits
- Quick & Easy Qualification
Forget What You Think You Know About ERTC. 80% Of Business Now Qualify Under Changes To The Cares Act.
Find Out If You Qualify in Just 10-15 Minutes.
Fill Out Questionaire
Start with the 10 simple questions on this site to begin your claim. We will email you a secure link to an application questionnaire to be completed online.
Upload your 941 returns, PPP loan documents, and raw payroll data on our secure portal.
We calculate the credit you can receive from the IRS
We will prepare and help you file the 941-X Amended payroll returns
The IRS will process your credit and mail you a check
- ERTC IS A BANK CREDIT OR REFUND CHECK