IRS Refunds Up to 26K per Employee
The IRS created some new tax initiatives to mitigate the impacts of COVID-19, and from a business perspective, ERC is very lucrative for businesses.
During the last two years, we have been able to secure significant credits for many clients.
On top of that, new regulations for ERC went into effect for 2021, making it easier to qualify for and significantly more generous.
Basic Parameters for 2020 and 2021
Eligibility: Decline in gross receipts of 50%+ in 2020 compared to 2019 or partial/full suspension of operationsBenefit: Up to $5k/employee/year in the form of a cash refund
Eligibility: Decline in gross receipts of 20%+ in 2021 compared to 2019 or partial/full suspension of operationsBenefit: Up to $7k/employee/quarter in the form of a cash refund
(Infrastructure bill eliminates 2021 Q4)