All Collections
Employee Retention Credits
Insights on the ERC program and qualifications
23 articles
What is the Employee Retention Credit (ERC)?ERC aids businesses retaining employees during COVID-19, offering up to $26,000 per employee.
The Employee Retention Credit is a RefundExploring the Employee Retention Credit (ERC) as a refundable tax relief tool for businesses.
How to Begin Qualifying for the ERCThe criteria and examples for businesses to qualify for the Employee Retention Credit
ERC QualificationTo qualify for the ERC, businesses must meet specific criteria regarding W2 employees, ownership, and COVID-19 impacts.
Apply for ERCLearn the step-by-step journey starting with eligibility, to calculating the credit, reporting wages, and claiming your credit.
Deadline for Filing the ERCThe deadline is September 2024
Do Companies Need to Repay the ERC Credit?No, they don't.
Paid Leave CreditExtended Paid Leave Credits offer tax benefits for businesses providing COVID-related leave through September 2021.
Information
Various questions and information about ERC
The ERC and Gross IncomeEmployers receiving ERC don't include the credit in their federal income tax gross income.
Claiming ERC When Revenue RisesCompanies can claim ERC despite rising revenues, if affected by COVID-19 restrictions or shutdowns.
ERC Analysis Amount Lower Than EstimateReasons why actual ERC qualification might be less than initial estimates, considering PPP loans and employee wages.
Potential Refund of the Employee Retention CreditThe ERC offers refunds exceeding employment taxes, with credits based on qualifying employee wages.
Will the ERC funds run out?Get the answer here
What if the Refund Received Differs from the Calculated Amount?The IRS pays out interest on top of the credit.
My CPA Says I Don’t Qualify, but ERCG Is Saying I DoMake sure you get your advice from the right place
Employee Retention Credit - 2020 vs 2021 Comparison ChartComparison of Employee Retention Credit provisions between 2020 and 2021, highlighting key amendments.
IRS Audit Timeline10 years from the date of the ERC claim
Taxes
How ERC relates to Taxes
The ERC and Federal Deductions on IncomeGet your questions answered
The ERC Reduces IRS DeductionThe Employee Retention Credit reduces the expenses that an Eligible Employer could otherwise deduct on his/her federal income tax return.
Reporting ERC as IncomeERC Refund will reduce payroll tax expense deductions
Getting More in ERC Credit Than Taxes PaidERC is based on payroll wages; excess credits can be refunded by the IRS.
Will the IRS Tax the ERC Refund?The ERC refund isn't taxable income, but reduces deductible wage expenses
Taxpayer Advocate ServiceYour voice at the IRS